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News Now

Washington
NACUSO team will ID issues facing CUSOs CUs
NEWPORT BEACH, Calif. (1/20/11)--The National Association of Credit Union Service Organizations (NACUSO) has launched a new advocacy committee charged with identifying and addressing the legislative and regulatory issues facing credit union service organizations (CUSOs). The committee, which was founded last December, will be chaired by CU Holding Company CEO Lisa Renner and will feature input from NACUSO CEO Jack Antonini and former National Credit Union Administration Chairman Dennis Dollar. The committee will focus on issues related to collaboration, innovation, industry growth and entrepreneurship--called the “four pillars” by the group--and will oppose anything that undermines those pillars, while “enthusiastically and strongly” supporting anything that promotes those ideals. Renner told News Now that the credit union industry as a whole must find ways to increase member service, thus increasing revenue while lowering operating expenses. “CUSOs are a business model that has proven successful in creating an efficient and effective platform for collaboration and innovation to achieve these two goals,” she added. The group will identify legislative and regulatory issues that impact CUSOs and their credit unions; determine what role NACUSO, as an organization, can play in those issues; and bring a recommendation before the board for actions to be taken, according to Renner. The committee is developing a focused, three- to five-point legislative and regulatory advocacy agenda, and that agenda will likely be released later this year. “There are many great advocacy groups in the industry, and we look forward to working with each of these groups to turn up the volume on the credit union industry voice as a whole--particularly on the important issues impacting how CUSOs can play a key role in the industry’s future,” Renner said. NACUSO was formed in 1985 to help credit unions explore the use of credit union service organizations and the delivery of non-traditional products and services.


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