As a not-for-profit, cooperatively structured organization, Tricorp shares the credit union philosophy, existing solely for the benefit of its member-owners. This structure offers credit unions distinct advantages for the services they use.
- Economies of scale create efficiency and cost savings.
- Services and new partnerships are developed or entered in specifically for credit unions, and credit union feedback provides the basis for new products.
- Liquidity, settlement and cash management can be handled at a single financial institution.
- Experts in credit union operations manage many back-office functions.
- Training and ongoing support are available at little or no cost.
- The absence of a profit motive or the need to generate stockholder returns keeps prices in check.