By Sam | June 2, 2013

Top 3 reasons to partner with a technology CUSO (Credit Union service organization)

Remember back to your first interview? Sitting there stiffly in front of the recruiter, you worked methodically through the normal questions – where did you go to school? Where do you see yourself in 5 years? Then the one you’d been waiting for … why should we hire you? You probably puffed up your chest and began the expected barrage of I’m a quick learner, I work well on teams or if you’re like me, maybe you gulped and said “because I need this job!”

Each week we’re asked essentially the same thing from our Credit Union customers – why should we partner with you? Although we boast many advantages, this post is about the advantages of partnering with a Credit Union service organization (CUSO). For more specific information on what a CUSO please see our previous post here – Disaster Recovery CUSO vs. Disaster Recovery Company.

Reason #1 – CUSOs share the same values.

Vertical markets have existed for a very long time. Insurance, medical, restaurants – people like to do business people who are like them. There is trust and confidence when dealing with those who are in your industry. CUSOs are owned by Credit Unions and share the same values and expectations of collaborating, listening and developing value-driven business strategies. A technology CUSO is founded on the same principles as your Credit Union and is an instant trusted partner.

Reason #2 – CUSOs know Credit Unions.

Do you have an NCUA IT Exam coming up? We’ve been in your shoes. Do you need that report scrubbed for the technology committee meeting? We’re on it because we understand the needs of your Credit Union and its goals. How do we know the criticality of these issues? CUSOs like ours consist of staffing made up primarily of experienced Credit Union leaders with years of experience as Credit Union CIOs.  This comes in particularly handy when developing technology solutions and working with Credit Union specific terminology like front/back office, ACH , OFAC or even BK scores. It is said that time is money and the cost savings of not having to bring your technology partner up-to-speed in your industry is enormous. CUSOs build solutions with one thing in mind – Credit Union needs. A CUSO must have 51% of their business focused on Credit Unions. This is a major incentive to prioritize and invest in solutions that are customized for the Credit Union industry.

Reason # 3 – CUSOs are partners not products.

Let’s face it – Credit Union technology staffing does not appear to be growing at the same pace the technology changes are occurring! A technology company (vs CUSO) will sell you products for a specific problem. A CUSO is going to engage you on a different level and offer you solutions that will make them an extension of your staff. Using a CUSO enables you to meet your technology challenges when sustaining your IT FTE numbers. Contract services through CUSOs are a great way to meet short term project goals or to handle specific complex technology challenges such as core conversions, WAN/LAN upgrades or developing technology strategies.

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