Press
CUNA CFO Council takes in-depth look at future-minded shared services in new white paper
MADISON, WI (November 22, 201) — If the credit union movement was founded on the principle of “people helping people,” it will survive on the similar-sounding principle of “credit unions helping credit unions.” Or at least that’s the belief held by many of the executives employed by financial institutions that have, for one reason or another, combined forces with one or more of their industry cohorts in recent years to offer shared services.
A new white paper from the CUNA CFO Council, “Sharing the Burden and the Success: Old and New Ways Credit Unions Can Benefit By Joining Forces,” takes an in-depth look at innovative ways credit unions are teaming up to design solutions that generate income, eliminate expenses, expand products and services, and otherwise enhance relationships with members.
The white paper seeks to provide insights to the following questions:
• How do some of these arrangements operate at actual credit unions, and what have been the bottom-line effects of them (or what are the bottom-line effects expected to be, in the case of on-going examples)?
• What are the staffing and other operational implications of these kinds of partnerships?
• What do interested parties need to be aware of or keep in mind should they decide to follow in the footsteps of these credit unions?
• What long-term strategic role do credit unions expect shared services to play in their operations in the years to come?
CUNA Council members are eligible to receive complimentary copies of this, and over 300 other white papers; non-Council members may purchase white papers for $50 per copy.
The paper is available online in the white paper section of www.cunacouncils.org.
Press may contact Natalie Sherry at nsherry@cuna.coop for a copy of the white paper.
CUNA CFO Council
The CUNA CFO Council is a member-led partnership of CFOs and finance professionals dedicated to providing education, leadership, networking support, professional development tools, and expertise to its members in order to shape the enhancement of the role and diversity of operations in the credit union industry. The CUNA CFO Council is one of the six organizations that make up the CUNA Councils, a network of more than 5,800 credit union professionals. For more information, visit www.cunacfocouncil.org or http://www.cunacouncils.org/.