Credit Union Service Organizations (CUSOs) are taking on a very important position in the credit union industry. These organizations improve credit union performance by using cooperative strategies to help credit unions enter new markets. There are generally two types of CUSOs, multi-owned and wholly owned CUSOs. As their names indicate, multi-owned CUSOs have more than one credit union owner while wholly owned CUSOs are owned by an individual institution.
On a macro level, 2,049 credit unions report either an investment in or loan to a CUSO. These investments and loans amount to a total of $668,297,389. Here are some financial highlights of each type of CUSO.
Wholly Owned CUSOs:
- 602 wholly owned CUSOs in the United States
- These CUSOs have approximately $304,603,072 in assets
- There are approximately 126 multi-owned CUSOs
- 5,023 credit unions report affiliations with these CUSOs by either investing or making loans to them or using their services
- Two of the largest multi-owned CUSOs, PSCU Financial Services and CO-OP Network have over $100 million in assets.
We are currently in the process of verifying data on multi-owned and wholly owned CUSOs for our publication, The Directory of Credit Union Cooperatives. If you are a CUSO looking to update your information, please e-mail firstname.lastname@example.org or call 1-800-446-7453.