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CU System
League group recommends consolidation names leader
ONTARIO, Calif. (12/7/10)--The Corporate Realignment Task Force (CRTF), which includes credit union leaders from eight Western states, has appointed former California Credit Union League CEO Dave Chatfield to assume its chairmanship. Jeff York, initial chairman of the CRTF and immediate past chairman of the California Credit Union League, will remain on the task force. States represented in the task force include California, Nevada, Idaho, Oregon, Arizona, Washington, Hawaii and Utah. “The work of this task force requires dedicated time and attention,” said York. “We are fortunate that Dave has agreed to serve as chairman, and we are extremely grateful for his personal dedication.” Chatfield agreed to serve as chairman on the condition that he would do so in a strictly voluntary capacity. In its ongoing assessment of corporate system options and solutions, the task force continues to encourage system consolidation and specifically supports merger of corporate credit union bridge entities. The task force issued the following recommendation: “Following an initial review of projected services, transaction volumes, costs, and financial results of individual corporate credit union organizations and that of merged entities, members of the Corporate Realignment Task Force strongly encourage merger of corporate credit union bridge organizations consistent with system safety and soundness principles. “Any merged entity must (a) assure that safeguards are in place to protect corporate system functions and natural person credit unions interests as well as (b) assure that the option of a competitively priced, credit union-owned corporate system remains. The Corporate Realignment Task Force pledges its support and influence to help achieve such consolidation in the corporate system.” “The task force has been unwavering in upholding its principles--a system solution that takes advantage of aggregation and that provides credit unions of all sizes and types with a universal solution,” Chatfield said.
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