ORANGE COUNTY, Calif.—It’s one of the most overlooked superpowers credit unions possess—and one banks don’t. It’s not technology or capital, but something far older and deeper: collaboration.
While consolidation continues to shrink the number of credit unions nationwide, one veteran of the movement believes the real solution isn’t scale, but shared strength. And he’s built a growing platform to prove it.
Mike Hales, long-time credit union advocate and board member emeritus at NACUSO, launched Collaboration Central several months ago under the banner of his latest endeavor, CUinfluential. The goal wasn’t to sell products. It wasn’t to create a new dues-paying club. Instead, the idea was—and still is—simple: give credit unions, especially smaller ones, a place to discover service providers, particularly CUSOs and vetted small businesses, that can help them thrive without adding staff or merging away their charters.
“I know for a fact that we would have many more credit unions still on the books today if they collaborated,” said Hales. “That’s the point. Collaborate or consolidate.”
Unlike traditional association marketplaces or directories that can charge thousands of dollars to be listed, Collaboration Central is free. There’s no paywall, no membership dues, and no silent hope that credit unions will stumble across it on their own. Hales is actively promoting the site through LinkedIn, Constant Contact, and direct outreach—not just to credit unions, but to small businesses that want to support them.
And the response is gaining ground. With over a dozen listings now and a goal to reach over 100 providers by the end of 2025, Collaboration Central is becoming a map of who credit unions can turn to when they need help—without needing to hire another full-time employee or take on the burden alone.
A Different Kind of Marketplace
Unlike some other industry marketplaces, Hales positions Collaboration Central as an actively curated and promoted ecosystem.
“This isn’t a static website,” says Hales. “It’s about showing credit unions—particularly the small ones—that there are real, affordable, credible partnerships out there. You don’t have to go it alone. You don’t have to hire five new people just to offer a new service.”
It’s also a subtle—but important—distinction from banking. While banks operate in silos, Hales said credit unions are structurally and philosophically wired to work together. And that collaboration is precisely the lifeline many credit unions need to remain relevant and independent.
“Banks can’t do this,” he said. “They can acquire or compete. But credit unions? We can collaborate. We can pool our resources, share talent, and bring new solutions to members without sacrificing independence.”
The Stakes Are Real
According to Hales, the need for a platform like Collaboration Central is driven by the ongoing loss of credit unions across the country. With consolidation accelerating, particularly among smaller institutions, Hales believes more CUs could survive—and even thrive—if they embraced the idea of shared services and strategic partnerships.
“We hear all the time that small credit unions can’t compete,” he said. “But that’s not the full story. They can compete if they collaborate. You can be a $50 million credit union and still offer robust insurance, lending, investment, and digital services—if you plug into the right partners.”
In other words, it’s not a size issue—it’s a connectivity issue, Hales said.
Despite stepping back from day-to-day consulting, Hales is anything but retired. He describes himself now as an “influencer”—but not in the Instagram sense. Instead, he’s championing the credit union model in its most authentic form: cooperation.
And while the concept is gaining traction, he acknowledges it’s still early. The vision is long-term.
“This isn’t about selling anyone anything,” said Hales. “It’s about saving what makes this movement different. It’s about helping credit unions stay in business—and stay true to who they are.”
If successful, Collaboration Central won’t just be a website. It could be the start of a culture shift—one where fewer credit unions feel the pressure to merge, and more rediscover the power of leaning on each other, said Hales, who added, “The real choice isn’t growth or death. It’s collaboration or consolidation.”