WICHITA, Kan., and ST. LOUIS (12/16/14)--The Kansas Credit Union Association (KCUA) and Missouri Credit Union Association (MCUA) have announced their intent to consolidate.
"This a not a merger; this is a consolidation," Don Cohenour, MCUA president/CEO, told News Now. "When you think of a merger, somebody survives and somebody goes away. We're creating a new entity here.
"With that we have a new vision. We want to get into payment systems. We want to get into research and development, new products and services. We want to serve our credit unions better and the best way to do that is to have a larger base of credit unions that we're serving."
Over the past three months, a joint task force of five directors from each association's board has met to determine the feasibility of the consolidation, the leagues said. In the next few months the task force will work to solidify a business plan to present to the memberships of both leagues for approval.
"The member credit unions of both associations have been used to a certain service level, and we want to make sure any consolidation builds upon that and that the value proposition is even greater than they have now," KCUA president/CEO Marla Marsh told News Now.
"We have very similar if not identical philosophies," Cohenour said. "We're both Midwest all the way. That's a hard thing to put into words, but we approach things in a very similar way."
In addition to their proximity, both leagues have a history of collaboration. Several years ago, the leagues held a joint annual meeting in Kansas City, Mo., and have held other shared events in the past. The leagues operated a shared service center together until the late 1990s. They both provide item processing services for their members. Within recent months, the two leagues entered into an agreement through which the Missouri league provides information technology support to the Kansas league.
Details on a new league headquarters have not been determined, Marsh and Cohenour said. "We've both committed to a strong advocacy presence in both states," Marsh said.