NEW: Arkansas, Oklahoma, Texas leagues intend to consolidateFARMERS BRANCH, Texas (FILED 3:15 p.m. CT 12/17/12)--The boards of the Arkansas Credit Union League, the Credit Union Association of Oklahoma and the Texas Credit Union League announced today they intend to pursue consolidation into a single regional league operating as Cornerstone Credit Union League.
The consolidation will allow credit unions in each state to enjoy the services and strengths of the new larger league. The new league will maintain an advocacy-focused office in each state capital to continue a strong local presence. All three leagues have worked closely over the years.
"There's no question that leagues are looking for more opportunities to collaborate," noted Michael Kloiber, CEO, of Oklahoma City-based Tinker FCU and chairman of the Regionalization Task Force. "League consolidations nationwide have one driving force at their core: credit unions must have top-flight offerings from their trade associations.
"Credit union leaders are looking for real value in their league membership--value that both shapes the credit union operating environment from a legislative and marketing perspective, and provides a full suite of products and services to its members to leverage our cooperative strength," Kloiber said. "By consolidating, we will ensure our region has enhanced services as well as a strong, united voice for credit unions in the marketplace, with elected officials, and within our movement."
The league boards have agreed to a governance structure and transition plan for consideration by their membership.
The next step is to conduct information sessions across the region to address any questions members may have about the proposed consolidation. A vote on the consolidation will be held at specially called meetings of each state in the spring.