LAS VEGAS-The news might come as a surprise to some, but the president of the National Association of Credit Union Service Organizations actually believes there should be fewer CUSOs.
"I still see consolidation opportunities for CUSOs," Jack Antonini told Credit Union Journal during NACUSO's Annual Conference here. "We have too many of some types of CUSOs, and because of that they don't have the scale needed. Some people might be upset to hear me say this, but it is the truth. If three or four CUSOs put their ego away and got together, they would have better scale and/or be able to offer a more complete solution. We could be better, stronger competitors."
Meanwhile, Antonini also noted NACUSO's chief ongoing project is to build a solution to help credit unions find the best CUSO with which to partner. The trade group currently maintains a database that is useful to some extent, he noted, but it is limited "to the CUSOs we know" so "we want it to be more complete."
"There is a real demand for such a solution," he said. "Credit unions are looking for a within-industry solution and CUSOs want to know how to connect with credit unions that are looking for their services."
