In this episode of Members First Mindset, hosts Dan Daggett and Melanie Munsey welcome Mark Cox, President and CEO of Innovative Business Solutions (IBS), and Nicol Matthews, Chief Operating Officer of IBS. They discuss the mutual referral agreement between IBS and Credit Unions First, how IBS supports credit unions in commercial lending and business services, and the shared values behind the partnership.

Key Topics Discussed:

• How nine credit unions in the Carolinas formed IBS in 2008 as a collaborative CUSO

• Coopetition: why competing credit unions came together to solve a common problem

• How IBS has expanded from commercial underwriting into business deposits, training, and sales support

• The commercial lending school and compact training curriculum, including sessions for state regulators

• Why credit unions of any size, including microcredit unions, can pursue commercial lending

• Full service, shared lender, and overflow models for supporting credit unions

• Why IBS sees itself as part of a credit union's back office and not as a vendor

• How NCUA's review of vendor authority could affect CUSOs, credit union owned vendors, and privately held vendors

• How the IBS and Credit Unions First referral partnership came together

• Personal stories from the credit union industry

On This Episode:

• Dan Daggett -CSO, Credit Unions First

• Melanie Munsey - CEO, Credit Unions First

• Mark Cox - President and CEO, Innovative Business Solutions

• Nicol Matthews - Chief Operating Officer, Innovative Business Solutions

For more information about Credit Unions First, visit creditunionsfirst.org. To learn more about Innovative Business Solutions, visit https://ibscu.com/.