OMAHA, Neb.—The Nebraska CU League has launched a CUSO designed to address the lack of succession planning among the state’s credit unions.
The CUSO follows a survey by the league of Nebraska CU executives that found almost 40% are age 60 or older, with many prepared to retire.
The new CUSO, Shared Management Services, is also designed to spread the cost of management across multiple institutions as part of an effort to lighten the burden caused by a retirement, according to the league.
“Upon the announced retirement of our manager, the board of directors explored several options and determined that sharing management services was the best way for our credit union to remain relevant, reduce costs and continue to be independent,” said Stacy Sall, board chair of Lincoln USDA Federal Credit Union, in a statement.