The good and bad of partnering with a Disaster Recovery/Technology CUSO
by: Kirk Drake
A CUSO, or credit union service organization, is a special type of entity that is owned and operated by Credit Unions. Credit Unions are not-for-profit financial institutions that unlike banks return all of their profits back to their customers or members. A Disaster Recovery CUSO, is a CUSO that specializes in providing Disaster Recovery Solutions and Disaster Recovery as a Service.
The primary rules for what the NCUA, National Credit Union Administration, says creates a CUSO is a credit union investing in an entity. With the credit union investment comes a string – 51% of the business must be focused on credit unions. There a good and bad things that come with this classification.
First the Good
- Our owners are some of our best consumers of our products.
- Our owners have a vested interest in our service levels and quality of products.