FREDERICK, MD (April 19, 2013) - During NACUSO's Annual Conference in Las Vegas this week, Guy Messick announced a new toolkit designed to help credit unions leverage group buying power and increase collaboration through "Buying Power" CUSOs.
The CUSO "Buying Power Toolbox" was introduced as a way for credit unions to leverage scale and negotiate favorable pricing for valuable services. Developed in collaboration with NeighborBench, the "Buying Power Toolbox" will provide a customizable roadmap to assist with the formation of new CUSOs.
Offered by the law firm of Messick & Lauer, the Buying Power Toolbox utilizes a detailed questionnaire to create the legal documents required for a new CUSO and provides general guidance on ownership and other governance issues.
"There are no limits to the products and services that credit unions could collaborate upon," shared Guy Messick. "Prime examples include Consumer Regulatory Compliance Solutions, Enterprise Risk Assessments, Office Equipment and Supplies, and Fixed Asset Management."
"There are examples of CUSOs saving their credit unions significant money through increased negotiating power while providing increased expertise that the credit unions could not afford on their own. The upside potential should motivate all credit unions to consider the advantages of a Buying Power CUSO," continued Messick.
To learn more about forming a Buying Power CUSO, credit unions should contact gmessick@cusolaw.com
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