Compliance A Shining Opportunity ForCUSO, Says Expert

CHICAGO - (08/29/05) If there is a shining need andopportunity for a CUSO to be formed, one analyst says it's in thearea of compliance. Guy Messick, a Media, Penn.-based attorney whospecializes in CUSO law, said he sees such a jointly-ownedcompliance CUSO as the only way smaller CUs will be able to cope.“How can a credit union with three people that has the sameresponsibilities to comply with FinCEN as a billion-dollar creditunion” stay in compliance?, he asked. Messick told The CreditUnion Journal he doesn’t know of a CUSO that has been formedspecifically for the purpose of compliance, althoughCommunityAmerica Credit Union does operate Counter IntelligenceAssociates as a CUSO and it does offer some relatedservices.