COLUMBIA, S.C., and RALEIGH, N.C. (5/9/13)--The boards of directors of the South Carolina Credit Union League and North Carolina Credit Union League voted Thursday to recommend consolidating of the two leagues, continuing a trend of collaboration among state associations.
The votes, made in independent meetings, acknowledge that the resulting league would be stronger and better positioned to serve credit unions in the Carolinas for years to come, said the leagues.
If the consolidation is approved by the leagues' members, it could be the second consolidation of leagues this year. Members of the Credit Union Association of Oklahoma are set to vote next week on a proposed merger with the Texas Credit Union League and the Arkansas Credit Union League. Texas and Arkansas credit unions already have approved that consolidation into what would be called Cornerstone Credit Union League (News Now April 4).
The Carolina leagues had announced in December that they were considering a merger (News Now Dec. 7).
The new league would draw financial strength and stability from a broader base of credit unions to serve, a solid equity position, and league service corporations with track records of success. Consolidating staff from both organizations would allow the new league to enhance its delivery of core association services: advocacy, compliance and professional development.
"Our board sees great promise in bringing together these two leagues," said NCCUL Chairman Maurice Smith. "Consolidation provides clear value and sets us on a path to successfully meet the changing needs of credit unions in the Carolinas."
Each league will share details with its member credit unions in May and June. Final membership votes in each state are expected by September with a proposed effective date of Jan. 1 for the new league.
"Our board has concluded that a consolidated league creates a financially strong organization that can deliver powerful and effective advocacy in Columbia, Raleigh, and Washington, D.C., for years to come," said SCCUL Chairwoman Faye Crocker. "We are excited about this opportunity and look forward to sharing more about our vision for the new league with credit unions in the coming weeks."