CU*NorthWest, a 100% credit union owned cooperative CUSO, has set the new price for an ownership share at $88,500.00. Each year the CU*NorthWest board of directors establishes the new stock price based on the audited financials from the prior fiscal year.
Chuck Papenfus, CEO of Inland Valley Federal Credit Union and chairman of the board stated: “We had a 6% increase in stock price from last year while maintaining returns to owners and reducing costs for all clients. In accordance with the firm’s business plans, there has been healthy and steady growth in the last 13 years.”
Although ownership is not required, CU*NorthWest maintains nearly 60% ownership penetration among its clients. “The fact that credit unions are seeking ownership in our CUSO is a good indication of cooperative health,” said CEO Greg Smith.
CU*NorthWest currently has owners in Washington, Oregon, Colorado, California, Montana, Alaska and Michigan.