State system prominent at NACUSO confab

(Clockwise from top) NASCUS’s Lucy Ito (second from right) joins other judges in the “Next Big Idea” competition in listening to a presenter’s big idea. Other judges are (from left) Bill Beardsley, president of Michigan Business Connection; Becky Reed, CEO, Lone Star Credit Union; Steve Salzer, SVP enterprise risk office and general counsel at PSCU … NASCUS’s John Kolhoff (left) and Brian Knight answer questions from session participants following their presentation … Liz Winninger, President & CEO of Xtend, moderates a panel discussing “Think tanks: Why credit unions need more of them” with Ito; Chris Harper, senior director of membership at Filene; and Vic Pantea of Variable Ventures. NCUA Board Member Rodney Hood and NASCUS’s Ito take time out at the conference.

(Nov. 12, 2021) NASCUS was a prominent participant in national conference for CUSOs held this week in Las Vegas, Nev., taking roles in conferences, breakout sessions and the annual “next big idea” competition for innovative ideas that benefit service organization offerings to credit unions.

The 2021 NACUSO Network Conference, held throughout the week, looked at a variety of subjects of interest to the state credit union system. Among the NASCUS’s participation was:

  • A session on credit union share insurance and how CUSOs can create more options for credit unions featured NASCUS Regulator Board Secretary/Treasurer John Kolhoff (commissioner of the Texas Credit Union Department) and association Executive Vice President and General Counsel Brian Knight. Among other things, Knight and Kolhoff discussed the importance of the strength of the dual chartering system. Knight made note of the Dual Charter Resource Initiative (DCRI), a partnership between NASCUS and credit union system organizations designed to update existing resources, and produce new ones, that support strengthening of the state charter. The pair also discussed how NASCUS is working with NACUSO and CU*Answers in support of the “CUSO Challenge,” a five-part program aimed at supporting CUSOs. Among other things, the initiative is working to facilitate de novo credit unions, enhance CUSO effectiveness in regulatory and legislative representation, study alternatives to deposit insurance, develop a scholarship fund, and gather ideas for CUSO development.
  • NASCUS President and CEO Lucy Ito served as one of the judges to select the winner for the 2021 “Next Big Idea” competition, sponsored annually by NACUSO to identify innovative idea for credit union service organizations. The winner selected by the audience and the panel was RenoFi, a firm that offers home renovation loans that provide financing for up to 90% of the after-renovation value of the property. Noting that RenoFi will present its innovation at the NASCUS 2022 State System Summit (S3) next summer, Ito congratulated the winner. “Consumers have many loan options from their credit unions for other life events, but this innovation fills a long-time need. Thanks also to NACUSO for bringing this innovation – and those of the other four finalists – to the state system’s attention.”


NACUSO Network 2021

CUSO Challenge