Marking a new phase in league co-operation, the Michigan and Illinois credit union leagues disclosed Monday they have signed a strategic alliance agreement to collaborate on membership and product development.
The two leagues stressed the collaboration deal is "neither a merger agreement nor an intent to merge" but rather a partnering step to work more closely to further the industry mission in sharing services and product enhancement in the two states.
"We believe this agreement will provide credit unions with a wide array of product choices and enhancements in a cost effective manner," said Dan Plauda, president/CEO of the Illinois League adding, "in these tough economic times, we are pleased to be able to take advantage of the strengths the Michigan and Illinois Leagues bring to the table in this area."
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