CUSO Group Creates Advisory Boards In Four Areas

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The National Association of Credit Union Service Organizations (NACUSO) has created four advisory boards to provide input and advice to the NACUSO board.

The advisory boards will consist of a Financial Services Advisory Board (for investments, insurance and trust services), a Business Services Advisory Board (for business lending, depository and ancillary services), a Consumer Lending Services Advisory Board (for indirect lending, mortgage lending, student lending, and collections), and an Operational Services Advisory Board (for data processing, disaster recovery, shared branching and management services).

"The board recognizes that NACUSO's credit union and CUSO membership is engaged in a wide variety of services, and while there are common points of interest in offering any type of service in a collaborative endeavor, each one has concerns that are unique," said NACUSO Chairwoman Ava Milosevich. "Through these advisory boards we hope to learn those particular needs so that we may address them in our conference agenda and through other support services. We are reaching out to the membership for counsel, asking to identify those particular needs."

Each advisory board has a NACUSO board liaison and two advisory boards have now been formed.

Pete Snyder is the board liaison for the Financial Services Advisory Board. Mike Hales is the Board Liaison for the Business Services Advisory Board.

The first such collaboration will take place on Tuesday afternoon, March 7 during the Bank Insurance & Securities Association (BISA) Annual Conference in Hollywood, Fla., where Snyder will facilitate a Credit Union Peer Group Meeting (co-hosted by NACUSO & BISA) featuring the NACUSO Financial Services Advisory Board.

The topic will be Current and Timely Investment/Insurance Program Issues Discussion and Investment Program Performance Metrics and Benchmarks.

"Input from the advisory board will allow us to respond to issues that might come up after we hold our annual conference that shouldn't wait. We might hold a regional meeting or use another method, but we will have a timely response," Snyder added.

Hales stated that the Business Services Advisory Board will enable the NACUSO board to focus on the particular needs of CUSOs that cater to the small business market, recognizing their regional or business sector differences.

"There is nothing cookie-cutter about business services CUSOs, even though some core processes may be the same. Those members who come to them for loans and other help really want someone who understands the regional influences and conditions under which they operate. The advisory board will perform that same function for NACUSO. We need to know what they need so that we can help them find the answers," said Hales.

The board liaisons for the remaining two advisory boards have not yet been named or the members selected. The advisory boards will be appointed annually.

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