The NCUA announced Wednesday that it added a search function to its CUSO registry to allow stakeholders to sort the nearly 900 organizations in the database.
The search function will allow users to sort CUSOs by name, city, state, zip code, registry number or services. Users can also export the data into Excel, CVS and PDF formats.
The CUSO Registry is part of NCUA's updated credit union service organization rule approved by the agency board in November 2013.
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The agency created the CUSO registry as a "direct result of lessons learned from the failure of nine CUSOs that caused more than $300 million in direct losses to the share insurance fund and resulted in the failures of consumer credit unions with more than $2 billion in assets," NCUA Communications Specialist Ben Hardaway said earlier this year.
Federally insured credit unions must ensure the CUSOs they invest in or make loans to provide their information to the NCUA.
NCUA enlisted NACUSO to assist in compiling the registry.
As part of its rollout of the new service, the NCUA also released updated CUSO data, saying that at the end of 2015, the organizations reported more than $1.3 billion in investments from credit unions. Almost three-quarters of the CUSOs were entirely owned by a credit union, with only five having more than 100 owners.
Some 95% of the CUSOs served less than 100 credit unions, with 67 serving only one credit union.
The top services performed by CUSOs were lending, member services, other services and payment and electronic transaction processing.
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