Bankers Oppose Expanded CUSO Powers Rule Ask for More Time to Comment
Learn why it's important to send your organization's comment letter to the NCUA before Monday, March 29.... see our new links below to download templates to submit your own comment letter...

As you have no doubt seen, the American Bankers Association has asked the NCUA to extend the comment period on the proposed amendment to the CUSO rule that will allow CUSOs to originate all types of loans a credit union can originate. The ABA recognizes the significant benefits that CUSOs have brought to credit unions in helping them originate loans for their members and want time to generate letters to oppose the expansion of CUSO powers, to make it more difficult for credit unions to provide competitive loan options to their members and compete with banks. 

Whether the NCUA grants this extension or not, we need to step up and send in comment letters before the March 29 deadline in support of the proposed amendment to the CUSO rule and oppose the ABA's efforts to stop this important modernization of CUSO powers and regulation. 

Show your support of the proposed amendment to the CUSO rule, to enable CUSOs to be an option to help credit unions who choose to utilize this collaborative solution. The market is changing, and more people are buying online and at the point-of-sale, making it more challenging for credit unions to be the loan solution for their members. National sellers don't want the friction of determining who is a CU member and to connect with hundreds of credit unions -- CUSOs can help by being a single national focal point for credit unions.

We have provided the links below to learn more about the proposed amendment to the CUSO rule. Also just added, is the option to download a simple one-page version that your organization can use as a template and starting point for your own comment letter.

Click here to support NACUSO's Regulatory Advocacy efforts. Help us fight the ABA's intrusion into credit unions by contributing to the NACUSO Regulatory Advocacy Fund.
Join NACUSO Gold Partner Alacriti and Mercator Advisory Group for a
Payments Modernization Update
The Clearing House RTPⓇ network is gaining transaction volume. FedNow recently said they are on track to go live in 2023 - which is earlier than many expected. NACHA is launching new requirements for ACH. So, what does this mean for your organization's 2021 plans? And how does this affect payments modernization overall?

In this educational webinar presented by Alacriti and Mercator Advisory Group on March 24, at 2:00 p.m. EDT, Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group, and Mark Ranta, CTP Payments Practice Lead for Alacriti, will discuss:

  •  Changes in payments, including real-time payment adoption
  •  Payment types FIs plan to add and their IT spend trends
  •  Executive payment trend concerns
  •  Update on market demand for faster payments and use cases
  •  Security and risk of the RTP and faster payments market
  •  Forecasts for interoperability of real-time payment networks
  •  Next steps to consider on your payments modernization progression
Join NACUSO Platinum Partner CO-OP Financial Services for their THINK 21 Series
Today, being a “member centric” credit union means much more than evolving your products. It means mastering the “Business of Member Experience.” So, what fundamental shifts does your credit union need to make to thrive in the future? Join us for this year's CO-OP THINK virtual series to find out:

  • What should drive your P+L and the "new" measure of success?
  • The power of payments, personalization and turning empathy into growth.
  • The importance of integrating member experience into your structural fabric.
FAST FIVE:
Public Policy Insights and Developments
Over the past year, the coronavirus (COVID-19) situation has become part of our new reality. Each day presents new challenges and new responses – from governments and organizations alike – that, in turn, presents new realities and challenges we are all feeling deeply.

Mastercard is closely monitoring these events to help ensure we are taking all necessary steps to protect our employees and maintain service to our members.

Thank you Mastercard, our valued Exclusive Premier Card Partner, for these insights. Click on the image to read the latest challenges and opportunities.