Page 5 - 2020 CU Solutions Group Annual Shareholder Report

areas of technology, marketing, performance and ad- offerings for relevance during the COVID-19 shutdown
visory solutions. Our strategy reset will ensure our and exploring new partnerships and investments that
current and future offerings pivot to the extraordinary would add investment income for CUSG and expand
needs of the credit unions and other businesses necessary services for credit unions.
we serve.
During all of this, the CUSG mission statement of
However, even as we pause to look backward, we now “helping credit unions serve, grow and remain strong”
find ourselves confronted with very big challenges. has never been more relevant.
The first was a business challenge associated with one
of CUSG’s longest and most successful partnerships— Despite these extraordinary financial challenges,
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the Sprint Credit Union Member Cash Rewards CUSG management is confident better days lie ahead.
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program. As Sprint finalized its merger into T-Mobile , Out of every crisis comes opportunities. We have
in tandem with the abrupt spread of the COVID-19 learned to work remotely and thus be more efficient.
pandemic, CUSG found itself confronting a significant We have an incredible team that is pivoting quickly
financial challenge. The CUSG board worked with to make the aforementioned partnership and invest-
management to create and implement a response ment decisions for the future. And we have a strong
plan that included significant expense reductions and balance sheet that will help CUSG weather the current
changes to investment strategies. recession and come out stronger and better posi-
tioned for the future.
On the heels of this big event, the COVID-19 pandemic Best regards,
shut down the entire state and national economies in
March 2020. CUSG did a strategic pivot to focus on
programs and services most helpful to customer credit
unions. For CUSG, this meant finding replacement Dave Adams
income for the Sprint partnership, modifying all core President/CEO, CU Solutions Group

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