Working together to give credit unions a stronger voice
The credit union industry is a large group of people with a shared belief in the benefits of community and cooperation. And with that shared mission, all credit unions, affiliated state and federal associations, and the credit union service organizations (CUSOs) that serve them must work together to protect and advance the wellbeing of over 100 million credit union members. As the credit union movement grew, leaders offered their time and expertise to advocate for fair regulations and access to new technology. That support from leaders throughout the credit union landscape has helped push our cooperative mission to ever-greater levels of success.
To further expand the voice of credit unions, CUSO senior executives participate on boards and advisory groups throughout the financial services industry, in disciplines including payment services, lending, risk management, insurance, investment services, business continuity and more. Cybersecurity and EMV, for example, are two areas in which credit unions benefit from a CUSO’s deep resources and partnerships. Through this participation, CUSOs can represent the credit unions they serve, keep them informed about the latest information and drive growth throughout the industry. This commitment ensures that their organizations and credit unions are positioned at the forefront of the financial services industry.
While CUSOs like PSCU and others don’t employ lobbyists to advance the concerns of the credit unions they serve, they do maintain strong relationships with CUNA and NAFCU, which are responsible for lobbying the national government on behalf of the credit union industry. By participating on the advisory groups of official lobbying partners and bringing payments expertise, CUSOs can help insure that credit unions’ interests are well represented.
The importance of maintaining a strong presence in credit union associations and advisory groups is more important than ever. That is why PSCU and other CUSOs have made it a priority to increase their participation throughout the credit union industry. One of the first steps they take to achieve this objective is to create the position of Senior Vice President of Industry Engagement, to lead their strategic direction to advocate on behalf of the credit union industry. These leaders work collaboratively with key national partners to ensure alignment on important topics. CUSOs support critical parts of a credit union’s operations and provide vital leadership for the industry.
Since 1977, PSCU has been a key partner for hundreds of credit unions, enabling each to offer new services and grow their business. Along with all the services and technology credit unions receive from their membership, one of the biggest benefits is a much stronger voice on credit union topics. With the purchasing power of many credit unions behind them, CUSOs have a huge amount of influence with leading financial services partners.
Industry engagement is an ongoing process for credit union organizations, not a short-term solution. Only by being continually engaged with all facets of the credit union industry can organizations effectively provide the appropriate guidance and collaborate on solutions that deliver an unparalleled member experience.