Episode Details

“We know we’ve a common problem. We know we’ve got to solve that problem. And even though were competing with each other, it will make all of us better if we cooperate.” – Mark Cox

Thank you for tuning in to The CUInsight Network, with your host, Robbie Young, Vice President of Strategic Growth at CUInsight. In The CUInsight Network, we take a deeper dive with the thought leaders who support the credit union community. We discuss issues and challenges facing credit unions and identify best practices to learn and grow together.

My guest on today’s show is Mark Cox, President and CEO at Innovative Business Solutions. He joins me for a conversation about commercial lending, collaboration, and the ways credit unions can expand their impact in their communities, and he shares his journey from aspiring heart surgeon to a 37-year career in commercial banking and, eventually, the credit union space. We talk about how Innovative Business Solutions helps credit unions build and grow commercial lending programs without having to develop all the expertise and infrastructure in-house, with Mark breaking down some of the biggest concerns that credit unions have around commercial lending—including risk, cost, and staffing—and explaining how a collaborative CUSO model can help address those barriers.

Throughout our conversation, Mark and I spend time talking about one of his biggest passions: affordable housing. He shares why he believes credit unions have an important role to play in addressing the housing crisis and highlights Duome and its innovative approach to helping more people overcome the affordability gap when purchasing a home. We also discuss ways credit unions can become more involved in local housing initiatives beyond traditional community service efforts.

As we wrap up the conversation, we look ahead at what’s next for IBS, including continued collaboration with business partners, and, of course, as per usual, we wrap things up with some rapid-fire questions about leadership, mentoring, fishing, favorite cities, a book recommendation, and finding balance between work and life. Perhaps most importantly, Mark and I talk about the idea of “coopetition”—how organizations can work together to solve common problems, even when they’re competing in the same market. Enjoy my conversation with Mark Cox! 

Connect with Mark:
Mark Cox, President and CEO at Innovative Business Solutions
https://ibscu.com/
Mark: LinkedIn
Innovative Business Solutions: LinkedIn

Show notes from this episode:
Shout-out: Christiaan Barnard
Place mentioned: South Africa
Place mentioned: North Carolina
Place mentioned: Columbia, South Carolina
Shout-out: Duome
Place mentioned: San Diego, CA
Place mentioned: San Antonio, TX
Book mentioned: