At the end of 2014 a group of credit unions shared a desire to develop their business model and agreed to start cooperating closer to achieve economies of scope and scale.
Cooperation across Credit Unions has important advantages, it allows them to join forces and is one of the core principles for Credit Unions. Through cooperation, credit unions can offer a larger scale of products and services without having to bear the full financial and time investments. Also, working together with a partner often opens access to new markets which supports the growth of credit unions. Finally, cooperation frequently delivers efficiency gains by improving and streamlining internal processes and procedures. Not only can functions be exploited to their full capacity but also investments to improve these functions can be better justified.