CU*NorthWest, a cooperative data processing CUSO, recently announced that Thinkwise Credit Union, formerly San Bernardino Schools Employees Federal Credit Union, will be purchasing stock at CU*NorthWest. They are the 20th credit union owner of CU*NorthWest. Thinkwise Credit Union is set to convert in September of 2015 and is excited at the prospect of being able to not only offer their members new products and services but also be an owner of a collaborative and cooperative network of credit unions.
“Our cooperative business model allows for an equal opportunity for ownership and voice, irrespective of member or asset size”, says Greg Smith, CU*NorthWest CEO, “our ownership structure allows for all participants to become owners of their CUSO”.
In addition to a positive return on stock value, shareholders have the opportunity to vote and participate on the board of directors, and are eligible for various profit sharing and investment incentives as directed by a governing board of credit union CEO’s.