As CU*NorthWest (CUNW), a 100% credit union owned cooperative CUSO, closed its fiscal year 2017 (ending 9/30/17), the CU*NorthWest board and management team evaluated the net profits of the firm and authorized the waiving of multiple fees for all September customer invoices.
Greg Smith, CEO of CU*NorthWest, stated, “CU*NorthWest remains committed to the cooperative principles on which we were founded and are happy to continue demonstrating the ‘difference’ as evidenced in this cost reduction to all customers. The board is dedicated to prioritizing the health of the entire CUSO and not just to stockholders. They take their responsibilities to all customer/owners very seriously and weigh the distribution of our firms returns carefully each year. Whether it is investing in keeping costs low, purchasing services for clients, or reducing costs by waiving fees, the board and management team remain devoted to ‘walking our talk’.”
“We are grateful for the continual spirit of partnership and collaboration that has built CU*NorthWest into the cooperative CUSO it is today. As we work to evolve our own businesses for the future, CU*NorthWest is also making those transformations,” said Chuck Papenfus, CU*NorthWest Board Chair.