BIRMINGHAM, Ala. — New opportunities for growth in a changing financial marketplace can be had for credit unions and CUSOs that are not afraid to seize the moment.

That was the message from Kirk Cuevas, principal partner with Dollar Associates LLC, a credit union consulting firm, who recently spoke at NACUSO's business services alliance in San Diego.

“Inaction will cost you, and right now, there's going to be a tendency to sit back and wait until the smoke clears, until the dust settles before you do anything,” Cuevas said. “I challenge you that now is not the time to sit back and wait for things to happen.”

Speaking on factors that could affect the regulatory landscape, Cuevas emphasized that fear of increased regulation and oversight should not deter safe and sound credit unions and CUSOs from partnering together to meet member needs and expectations. He said the key regulations and issues to watch include NCUA part 723-member business loan regulation, part 721-incidental powers, part 712-CUSO rule, vendor examination authority and NCUA chartering and field of membership manual.

“You're going to have opportunities and you've got to jump through and be ready to do it. That doesn't mean you do it carelessly. You do it measured; you do it with balance, safety and soundness…”