3 leagues merge to form Cooperative CU Assn. effective Jan. 1
MARLBOROUGH, Mass. (10/24/14)--Massachusetts credit unions voted unanimously to join with the credit unions of New Hampshire and Rhode Island in a merged credit union trade association. The result of that vote, together with similar votes taken earlier this month in New Hampshire and Rhode Island, means that the credit union leagues in the three states will merge to form the Cooperative Credit Union Association, effective Jan. 1 (Daily CU Scan Oct. 23).
"This historic vote is a tremendous testament to the value our credit unions place on cooperation," said league President Paul Gentile. "The credit unions in our states and our trade associations have a long and proud history of working together. We can accomplish so much more when we work together. I want to offer my sincere thanks to the members of the Boards of all three leagues and our member credit unions for their careful and serious consideration of the merger, and the strong and committed support that they showed it."
Massachusetts Credit Union League Chairman David Surface said the governance structure of the merged association will serve the association well for years to come. "We wanted to be certain that large and small credit unions were represented and that no one state dominated the process. I am confident members will see us delivering more value in each of our three states," said Surface.
In each of the three states, local branding will be maintained with the names of "Massachusetts Credit Unions," "New Hampshire Credit Unions," and "Credit Unions of Rhode Island" being used on the local level for all facets of advocacy and social responsibility. The brands carry the common tag line of "Creating Cooperative Power."