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Insurance, Loans as Commodities Set Stage for CUSO Partnerships

Credit unions are generally limited in how they approach members to meet their insurance needs but depending on the type of channel deployment, CUSO partnerships can go a long way to make the connection.

By Michelle A. Samaad | Updated on December 04, 2007

DALLAS — Credit unions are generally limited in how they approach members to meet their insurance needs but depending on the type of channel deployment, CUSO partnerships can go a long way to make the connection.

According to ProfitStars, a division of Jack Henry & Associates that provides risk mitigation and other products and services to financial institutions, 54% of credit union employees report that they ‘understand’ insurance and 78% of believe rate insurance referral is ‘easy.’ Conversion rates increase with certain channel deployment especially at the Web site, call center and branch levels, ProfitStars found.

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