TALLAHASSEE, Fla., and ALBANY, N.Y. (10/21/15)--The League of Southeastern Credit Unions and Affiliates (LSCU) and the New York Credit Union Association (NYCUA) announced Tuesday the creation of a shared services collaboration.
The collaboration will consolidate many back-office operations, such as accounting, finance, information technology, administrative services and human resources. Anything that is performed by the association side that isn’t state- or market-specific also will be part of the new group, according to Patrick La Pine, LSCU president/CEO. These areas include communications, education and training, and marketing.
The individual leagues, CEOs and boards will remain, allowing them to focus on advocacy and state-specific issues.
“This was specifically intended to provide other state leagues with the option of participating in the future,” said NYCUA President/CEO William J. Mellin. “Our hope is to provide an alternative structure for leagues that are looking to become more efficient and effective, while still maintaining their local structure and identity, especially when it comes to advocacy.”
La Pine added: “This allows us to become more efficient and stabilize the cost of membership. We’ll be able to leverage our great staff to focus more on regulatory and legislative advocacy.”
Phase two of the project will develop an entity focused on for-profit services and product development.
Shawn Wolbert, LSCU senior vice president of finance/administration, will lead the new shared services company, which will be incorporated in Alabama.
The subsidiary will serve more than 650 credit unions in Alabama, Florida and New York, totaling $142 billion in assets and 12 million credit union members. “This kind of scale and reach provides a powerful voice in the marketplace,” said Kirk Kordeleski, president/CEO of Kordeleski Consulting, who worked with the two leagues to validate this business model.