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CUNA CFO Council Takes Look at Future-minded Shared Services
Monday, November 25, 2013 6:55 AM

If the credit union movement was founded on the principle of “people helping people,” it will survive on the similar-sounding principle of “credit unions helping credit unions.” Or at least that’s the belief held by many of the executives employed by financial institutions that have, for one reason or another, combined forces with one or more of their industry cohorts in recent years to offer shared services.

A new white paper from the CUNA CFO Council, “Sharing the Burden and the Success: Old and New Ways Credit Unions Can Benefit By Joining Forces,” takes an in-depth look at innovative ways credit unions are teaming up to design solutions that generate income, eliminate expenses, expand products and services, and otherwise enhance relationships with members.

The white paper seeks to provide insights to the following questions:

  • How do some of these arrangements operate at actual credit unions, and what have been the bottom-line effects of them (or what are the bottom-line effects expected to be, in the case of on-going examples)?
  • What are the staffing and other operational implications of these kinds of partnerships?
  • What do interested parties need to be aware of or keep in mind should they decide to follow in the footsteps of these credit unions?
  • What long-term strategic role do credit unions expect shared services to play in their operations in the years to come?