AUSTIN, Texas (4/4/13)--Member credit unions of the Texas Credit Union League voted overwhelming in favor of a single cooperative organization, the Cornerstone Credit Union League, which, if passed by two other states, would consolidate TCUL, the Arkansas Credit Union League, and the Credit Union Association of Oklahoma.
"A tremendous amount of work, research, and consideration has gone into this measure," TCUL President/CEO Dick Ensweiler said. "I applaud our member credit unions for recognizing and respecting the power of collaboration."
Member credit unions of the Arkansas league will vote on the measure April 11. The Oklahoma association's members' vote will be during its annual conference May 13-15. Delegates voting from all three states must vote yes on the measure for it to become official.
Texas credit union delegates cast their favorable votes Wednesday afternoon during TCUL's special member business meeting in Austin, which was held in conjunction with its Texas Governmental Affairs Conference and Member Meeting & Expo. The conference continues through Friday.
"This is an exciting time for our movement, and the first step toward the realization of the Cornerstone Credit Union League," said Paul Trylko, president/CEO of Amplify FCU and chair of TCUL's board of directors. "We have an extraordinary amount of talent and passion in all three organizations, and I'm confident in the future of the Cornerstone Credit Union League."
If credit unions in Arkansas and Oklahoma vote yes, an initial board of directors will assume positions as the combined league's board, with three directors from Arkansas, three from Oklahoma, and 12 from Texas. The new league would then become official on July 1.
The three leagues, which have worked together closely over the years, signed an agreement to consolidate on Jan. 3.