What is a cuso?

CUSO stands for Credit Union Service Organization. CUSOs are organizations that provide various services to credit unions, such as IT services, lending services, marketing services, and more. CUSOs are typically owned by credit unions and serve to help them expand their service offerings and improve their efficiency. CUSOs can also help credit unions better compete with larger financial institutions by allowing them to pool resources and share expertise. CUSOs are regulated by the National Credit Union Administration (NCUA) and must adhere to certain guidelines and requirements.