The merger of the $70 million State Central Credit Union of West Allis, Wis., into the $1.5 billion Summit CU is now nearly complete, but State Central members received a bonus last month recognizing their loyalty-a $5.2 million dividend.
An intranet portal specialist has partnered with a consulting group to offer what the credit union specialists call a comprehensive vendor management program.
Bill Cheney, who has spent almost his entire career in credit unions, most recently as president/CEO of the California and Nevada Credit Union Leagues,
CUSOs and vendors agree that mergers in the credit union industry continue to have an impact on their business models, but it's not necessarily a negative one.
For some credit unions, it continues to take a whole lot of arm twisting to prove that offering trust services to their members is really worth the effort and time commitment needed to see a steady return on investment.
