BEAUMONT, Texas–DuGood Credit Union here has launched a new CUSO that seeks to offer shared services to other credit unions.
The new CUSO, Texas CU Services, LLC, will offer resources that include mortgage, lending and IT services.
In a statement, DuGood CEO Jada Kelley said “the cooperative spirit” was the motivation for the CUSO, which will offer affordable services to credit unions that will result in shared efficiencies and growth.
“Most people probably don’t realize that there are over 60 credit union locations in Southeast Texas, and we all have the same desire to serve our members well,” Kelley said in the statement. “Credit unions aren’t like any other type of financial institution. Even though we serve the same area, we work together. We’re cooperatives, and we want everyone to be successful.”
According to DuGood CU, in its first weeks of operations, the CUSO is already assisting three local credit unions. The goal is to eventually add more services, including consulting and core computer system hosting, in the future.
The $275-million DuGood CU has 30,000 members.