Having recently attended the 2026 NACUSO conference with several more conferences on the calendar, you quickly realize how important the relationships you’ve built are. In the credit union industry, we’re rooted in “people helping people” and credit unions have always understood something the broader financial services industry is trying to catch up to: relationships matter more than transactions. But today, as the pace of change accelerates even faster with digital disruption, the generational wealth transfer, and increasing competition, the conversation must evolve. It is time to activate relationships and not just place a value on them.
The true power in the credit union movement is built on connections, collaboration, and the collective power of “who”.
The Power of “who” in a cooperative industry
In his book The Power of Who, author Bob Beaudine challenges the traditional idea of networking and replaces it with something far more meaningful: leveraging the relationships already around you. As he puts it, “You already know everyone you need to know”. This idea is particularly powerful in the credit union industry because credit unions were never built on cold connections; our connections are built on trust, shared purpose, community, and collaboration.
Beaudine goes even further, emphasizing that “the golden rule is ‘Who’ always comes before ‘What’”. This insight leans into credit unions needing to embrace that even for its members, it’s not about what you offer but who you engage, partner with, and serve alongside to support and guide your members through their financial journey and decisions.
From networking to true connection and collaboration
Many times, collaboration is formed out of necessity rather than alignment. I experienced this several times while working in the credit union space—I am guilty of the necessity rather than alignment for the betterment of our members, our credit union and the industry. One of the things I was unfamiliar with when I first joined the credit union movement back in late 2007 was this amazing collaboration engine called a CUSO, otherwise known as a Credit Union Service Organization (should anyone else be unfamiliar with the term). CUSOs are the engine that gives credit unions shared momentum and the ability to compete on a broader scale.
Where CUSOs become a force multiplier
CUSOs are not just vendors or service providers, CUSOs are an extension of the cooperative philosophy. When they are leveraged effectively, they become:
- Innovation accelerators
- Collaboration hubs
- Relationship multipliers
- Membership experience drivers
- Community impactors
CUSOs embody the very essence of “who”, while connecting credit unions to:
- Shared expertise
- Scalable solutions
- Broader network of influence
- Options for differentiation
In the rapidly evolving landscape that we find ourselves in, no credit union should go it alone. CUSOs allow institutions to pool resources, share risk and co-create solutions that would be difficult to achieve independently. CUSOs are strategic enablers, where credit unions can look at their communities not solely as markets to be won or lost but they become partners with a shared purpose.
And CUSOs have evolved over the years to provide a few of the following services:
Building a “Who-Centered” strategy for success
What does this look like in practice?
- Know whose relationship should be amplified
- Identify partners, CUSOs, and community organizations that can amplify and help you carry out your mission.
- Investing in depth, not just breadth
- Stronger, more well-defined relationships drive more meaningful outcomes.
- Activating collaboration
- CUSOs are a big part of shared innovation and strategy execution.
- Leading with purpose and trust
- Relationships thrive where there is clarity of the mission, consistency of values, and associated drive and energy to achieve the unimaginable.
The bottom line
The credit union industry has always had the advantage, but we haven’t always leveraged it fully. In a time of transformation, the question isn’t “What should we build next?”, it’s “Who should we build it with?”. And in that lies the future of the credit union industry. We’ve always known we’re better together!
Looking for a specific service, or innovation partner? Reach out to us at Innovative Business Solutions and we will lead the effort to connect you with a CUSO that fits the strategy and mission at hand.
