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doug ferarro

Collaboration is about leveraging resources – such as talent, money, customers and data – to achieve results better, faster and cheaper. Smaller companies need collaboration to compete with larger companies because they don’t have the scale to innovate and maintain quality products and services at a competitive price. Credit unions need collaboration to ensure access to technology and transaction channels, which serve our members in the global marketplace.

There are many success stories of credit union collaboration. CO-OP Financial Services is an example of enabling credit unions to compete with ATM, debit, credit and shared branch transactions in an industry aggregated fashion at a competitive price. The CO-OP ATM network has roughly 30,000 ATMs accessible to credit union members, more than just about any bank. Our trade associations are collaborative solutions for industry advocacy. There are many collaborative ventures in lending solutions, insurance, investment brokerage, technology and others. Each generates an advantage to the participants that helps them meet their mission.

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