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NCUA Releases “CUSOs at a Glance” to Provide Annual Snapshot of the Sector

ALEXANDRIA, Va. (June 1, 2016) – Stakeholders will be able to gain a better understanding of credit union service organizations with the addition of a search feature to the National Credit Union Administration’s CUSO Registry.

Users can search for information on the nearly 900 registered CUSOs by name, city, state, zip code, registry number or services. Users can also export the data into Excel, CVS and PDF formats. Users can access the searchable registry by going to https://cusoregistry.ncua.gov/Search/ (opens new window).

The CUSO Registry is part of NCUA’s enhanced credit union service organization rule approved by the NCUA Board in November 2013.

NCUA Releases New “CUSOs at a Glance”

In addition, NCUA has developed a new, annual fact sheet on the CUSO sector. The CUSOs at a Glance fact sheet provides key metrics, including the levels of credit union investments in CUSOs, the percentage of CUSOs wholly owned by a single credit union, the number of credit unions CUSOs serve and the types of services CUSOs provide, among other data.

Key findings at the end of 2015 include:

• CUSOs reported more than $1.3 billion in investments from credit unions.
• CUSOs reported more than $447 million in loans from credit unions.
• A majority, 74 percent, of CUSOs were wholly owned by a credit union, with only five CUSOs reporting more than 100 credit union owners. One CUSO reported having more than 1,000 credit union owners.
• The majority, 95 percent, of CUSOs serve less than 100 credit union customers, with 67 percent of CUSOs serving only one credit union customer.
• The top four CUSO services are lending, member services, other services, and payment and electronic transaction processing.
• Nine states—Texas, California, Virginia, Michigan, New York, Florida, Pennsylvania, Indiana and Massachusetts—have 30 or more CUSOs headquartered within the state.

Interested stakeholders can view the 2015 CUSOs at a Glance online here (opens new window).