By Theresa Witham
Element Federal Credit Union, Charleston, W. V., is currently working with six CUSOs–credit union service organizations–to do such things as mortgage processing, shared branching, ACH, P2P and bill-pay.
In the most recent episode of The CUES Podcast—which is part of our month-long CUES on CUSOs coverage–Linda Bodie, CEO/innovator at the CU says, “there’s a whole menu of things we’re been able to offer to our members [by working with CUSOs]. It allowed us to do a lot of things for not a lot of money.”
The advantage of using a CUSO is that you’re working with your peers, Bodie explains. “You know them, they know you. You’re working for the same business.
“It’s more like working with your family because credit unions are family.”
It might even be a better product because you’re working with like-minded people who are working toward the same goal, she adds. It’s a give and take relationship. And everybody involved with the CUSO benefits. Listen to the episode now.
How does your credit union use CUSOs?
Theresa Witham is CUES’ managing editor/publisher.
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