The boards of directors of the Northwest Credit Union Association (NWCUA) and the Idaho Credit Union League (ICUL) have signed a letter of intent to merge the ICUL and its service corporation, League Services Inc. into the NWCUA and its service corporation, Strategic Link, Inc.
The respective boards signed the letter last week, and approved a Merger Agreement with a “do pass” recommendation to their member credit unions.
The two trades and their member credit unions have effectively demonstrated what is possible with a three-state collaboration. Under a strategic alliance agreement that began Jan. 1, the NWCUA manages the ICUL.
State advocacy advanced in all three states, credit union employees collaborated at professional development councils and other events, and the organizations recent jointly hosted MAXX Convention attracted nearly 1,000 attendees.
“Along this journey, the soards have shared their collective desire to ensure the next steps would formalize this three-state collaboration and continue to build on the strengths of all legacy organizations and the credit unions who support them,” said Brooke Van Vleet, NWCUA board chair and President/CEO of St. Helens Community CU in St. Helens, Ore.. “The boards’ end in mind remains focused on achieving the maximum long-term benefits on behalf of all member credit unions.”
“The boards and management believe this approach serves the future needs of member credit unions in all three of our Northwest states,” stated Kent Oram, ICUL board chair and president/CEO of Pocatello, Idaho-based Idaho Central CU. “Both ICUL and NWCUA Boards believe the recommended merger will increase the strength of the voice, influence, and impact of this new three-state world-class trade association. Together, we continue to advance this Northwest Credit Union Movement with the leadership our member credit unions expect.”