Four state leagues–California, Texas, Georgia and Ohio–have organized a new Dallas firm, CU Partner Link, to develop new state-of-the-art products and services for member CUs concerned over lost income.
"Credit unions have rarely faced a more challenging operating environment than they do today. A multi-year economic downturn, stagnant loan demand and an ever increasing regulatory burden are just a few of the headwinds the industry faces," said Richard Ensweiler, chairman of CU Partner Link and president/CEO of the Texas Credit Union League.
In a press release, CU Partner Link organizers noted that most CUs have spent inordinate energy over the last few years on finding ways to reduce operating expenses amid interchange losses and high assessment fees.
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