CUSOs & Collaboration: Working Together to Achieve Expense Reduction and New Paths to Income
“People Helping People” has evolved over the years to “Credit Unions Helping Credit Unions”. We are a land of rugged individuals who recognize the best way to get work done well is by collaborating with other good people and businesses. New ways to earn off-balance sheet income and reduce expenses are being achieved. Cooperative Strategies has been both leader and collaborative from the early days. We know collaboration starts with building trust, finding the wins and acknowledging individuality. There’s room for ego, especially when it’s fueling innovation and sustaining best practices. From there, anything can be dreamed and built by integrated CUSO’s, Collaboratives and Cooperatives.
What about competition? You should hold onto your credit union’s brand, delivery and other points of difference. This isn’t about merging into a “big” credit union or sublimating yourself to endless committees and group hugs. It’s about being who you are, watching your credit union grow and finding new ways to compete with banks and other for-profit financials.
Successful credit union collaboration surrounds us as we look at the Financial Services Co-Op, CU*Answers, CUSO Financial Services and the Back-Office Cooperative we recently help build, CU Roots. Today in the United States there are over 30,000 cooperatives employing more than two million people, owning more than $3 trillion in assets, generating over $654 billion in revenue.
We can help replicate models that work elsewhere, create new ways that no one has thought of or get the work done. We’ve been there many time with others, we’re with you and will get you where you want to go.