Bill Beardsley
CUSO Magazine: Thanks so much for sitting down with us, Bill! First and foremost, can you shed some light on NACUSO for those who might not be familiar?
Bill Beardsley: NACUSO is the trade association for CUSOs and the credit unions that own or engage with CUSOs. It is also a community of collaborators, including CUSOs, credit unions, FinTechs, and others.
Our membership consists of CUSOs, credit unions, leagues, big and small technology partners, industry service providers, etc. We are the only trade association that puts CUSOs first in its advocacy efforts. But our real secret sauce, or “super power” as some say, is our ability to bring the industry together in a truly collaborative spirit to innovate and create solutions for the entire credit union community.
How do you bring members together?
Our national conference, called “Reimagine,” takes place every spring and generally attracts 500-600 participants to engage in collaborative discussions, create new ventures, share and compare with peers, attend learning and development breakouts, etc. There is an incredible, magical buzz that happens at these gatherings.
We also occasionally hold smaller gatherings, both virtual and in person, usually built around common ground issues or like-kind CUSO types. And we plan and execute congressional and regulator visits periodically when there are hot topics or even just to keep our relationships visible and strong. These visits are open to our membership.
What’s the basis for membership benefits?
Member value is somewhat unique to each CUSO type, its size, etc., but the visibility and opportunity to engage in thought leadership is common to all. For me personally, I’ve always felt that what you get out of NACUSO is a function of what you put into NACUSO. If you join a peer advisory group, if you attend a conference and actually engage in sessions and meet new people, if you volunteer for a committee, you will get a lot more from NACUSO.
You’ve been chair of NACUSO since April, helping NACUSO through this transition period. How’s it going?
It’s a really unique time for NACUSO. We successfully conducted our CEO search and selected former NAFCU President, Randy Salser! Miriam Akerman did a fantastic job as interim CEO, and we’re so grateful for all she accomplished.
On top of that, our conference this year had near-record attendance, and we recently rolled out an expanded membership benefits package. There are lots of things to be excited about over here!
What’s been your journey with NACUSO, and what originally drew you to the organization?
I joined NACUSO in the first year of our CUSO in 2004 and have been engaged ever since, serving on various committees, helping with conference planning, etc., ever since. I was elected to the board eight years ago and have served as an officer and Executive Committee member for the past four years.
I love that NACUSO attracts members who understand that CUSOs and credit unions are best served when we collaborate and work together. Our organization gives CUSOs greater industry visibility and voice than what individual CUSOs could get on their own. The ability of credit unions to invest in, or even conduct business with, third parties such as CUSOs could be changed at any time.
It is vital that we all support an effort to ensure that the good work CUSOs do is known and never taken for granted. Every CUSO should be a member of NACUSO, and the credit unions that own them would also benefit from engagement.
How does the role as board chair compare to what you expected?
It’s been a lot more hands-on than typical, just because of our transition with staff. But with a permanent CEO, I expect it will return to a more normal Board-CEO relationship. The role is really about being a resource to the CEO and the facilitator of board governance and organizational vision.
What are some of the challenges NACUSO is facing?
We experienced some communication gaps in 2024 that we are resolving. Some of these were due to a change in our internal technology, and frankly, some were due to staff turnover, messaging, and execution. The industry is dynamic, and many new CUSOs don’t look like many of the old CUSOs, yet all CUSOs are critical, and our messaging and actions need to reflect that.
We are an entry point to credit union relationships, both capital and customers, for new financial technology companies, and navigating that is a challenge and actually something we do really well.
What are some of the opportunities facing NACUSO?
This is a dynamic time for the entire industry, and the role that collaboration plays in creating innovative and entrepreneurial solutions is the heart and soul of what CUSOs are and do. NACUSO is the one and only trade association that focuses on CUSOs, so the opportunity to grow our impact through the successes we help foster has never been better.
As noted earlier, there is a lot of interest by outside players in the credit union space, and we help them understand the opportunities and challenges of credit union culture. And in the process, many of these ventures become CUSOs.
How do you see the new CEO, Randy Salser, fitting into that?
We are so fortunate to have Randy join us. Randy has a long history working with NACUSO through his NAFCU leadership responsibilities, and truly understands what it takes to grow an association, both on the strategic side and the practical business side.
Randy Salser
Looking to the future, what are you most excited about?
In September, I spent two days with our entire board and our new CEO in a strategic planning session, and the level of engagement was fantastic. We have been intentional over the past few years in assessing the diversity and depth of our board’s skill set and representation coverage of the entire industry. This depth and diversity showed up in our planning session in really candid and thoughtful discussions.
But mostly, I am very excited that the board and new CEO are aligned to serve the industry and grow the impact of NACUSO in bold and profound ways.
Thanks for joining us, Bill! We cannot wait to see what’s next for you, Randy, and NACUSO.
