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What magic pill can help keep hundreds, indeed thousands of credit unions from vanishing over the next decade?

Vim Anand, CEO of Member Support Services, says his CUSO can create operational efficiency and cost savings through economies of scale and standardization. The focus is on backoffice technologies and, says Anand, MSS’s tools deliver 20+ % cost savings.

But don’t take his word for all of this. Also on the show is John Bissell, CEO of $1.6 billion Greylock Federal Credit Union in Pittsfield MA. Bissell is a new MSS member-owner and he explains that the credit union took this step because he sees this as a way to stay independent and local and both of those are crucial to Bissell who believes they are a big part of the credit union special sauce.

Greylock, by the way, is the biggest credit union in MSS - the two other member owners are >$400 million apiece - and MSS is actively seeking new member owners because Anand’s goal is $8 to $10 billion in total assets.

And the payoff, says Anand, will be helping more credit unions stay independent.

As for why Bissell is set on keeping Greylock independent understand that he grew up in a Greylock family. His dad logged 30 years at GE which was the SEG that powered the birth of the credit union.

Listen to the show to hear Bissell’s story of how an Amherst College grad with an English degree migrated to Seattle but after 10 years he felt the call to return to western Mass, as locals call the region.

Do you want more credit unions to stay independent? Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

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What’s the credit union mission?

Really?

At Inclusiv CEO Cathie Mahon believes that mission is serving the underserved.

That won her a place as a very early guest on the podcast.

Indeed hers was episode 15.

She’s still working on making that mission reality at Inclusiv.

And this still is a show that explores topics that really matter.

Listen up.

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Bet you don’t know what the word “hapax” means.

Listen to this podcast with Kevin Green, COO of Hapax, an Ai based tool that is built around the files and date inside your credit union. As Hapax explains, “Our Enterprise Model learns your institution's unique practices, policies, and challenges to facilitate knowledge-sharing among your team. It provides a repository of specific data that team members can reference, spurring professional growth, streamlining training, and delivering results tailored to your institution so you can successfully navigate the industry’s rapidly changing landscape.”

Best of all, Hapax essentially pays for itself through reduced employee time spent sifting through credit union policies and procedures.

The big name AI tools - think Chat GPT - are broad gauge while Hapax is very precisely focused and - critically - it’s built around the credit union’s own data.

Importantly, too, each Hapax deployment is in effect a private data lake. Data is not shared with other institutions.

Sound good?

It will sound even better when you listen to the end of the show and find out who the CEO/founder is.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto