It's no secret that credit unions are experiencing unprecedented challenges. And to address them most effectively, several credit unions are finding there is strength in numbers. From ever tightening margins to a more intense regulatory climate, and from keeping up with members' demand for "anytime, anywhere" services, to finding cost-effective back-office vendors, credit unions have many critical issues on their plates. But rather than figuring out courses of action on their own, regional leaders from a group of mid-sized credit unions on the East Coast have collaborated to create what they call the "Virginia & Carolinas Roundtable."

Together, roundtable members identify, discuss and vet the issues they face. The result has been an effective partnership for sharing resources and implementing solutions to many of today's challenges.

From just eight participants three years ago, the roundtable has grown to include 20 innovative and forward-thinking, federally insured credit unions, dedicated to actively identifying opportunities to maximize value to their members. Collectively, they represent more than $1.6 billion in assets and 230,000 members from Maryland, North Carolina, South Carolina, Virginia and Washington, D.C. Participants meet semiannually, investigating and discussing relevant financial/credit union topics or emerging issues previously identified by the group.