This year, six state credit union leagues formed new partnerships, launching a new chapter of industry collaboration, competition and survival.  

Last week, the CEOs of the League of Southeastern Credit Unions and the New York Credit Union Association signed a letter of intent that they say will create the nation's largest league collaboration project. And in January, the Ontario, Calif.-based Plexcity, a collaborative organization formed by the California, Nevada, New Jersey, Maryland and District of Columbia state associations, launched its operations.

These two entities will inevitably compete to attract the remaining 33 state leagues. More importantly, however, is whether these collaborations will enable the trade associations to survive the unrelenting credit union industry trends of mergers, dwindling membership dues and other revenue sources.

The Plexcity collaboration is already producing positive results.

“We continue to see significant efficiencies, with operating expenses in these areas being reduced by about 30% [by] next year when compared to what it would have been had we kept these functions in house,” John Bratsakis, president/CEO of the Maryland and District of Columbia Credit Union Association, said.

Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues, and Greg Michlig, president/CEO of the New Jersey Credit Union League, also said they were pleased with Plexcity's collaborative model, noting it allows them to devote more time and resources for advocacy and membership needs.

Tony Kitt, CEO of Plexcity, and former Bethpage Federal Credit Union President/CEO turned independent consultant Kirk Kordeleski, who helped facilitate the Florida/New York partnership, said the industry's collaboration projects will continue to grow.

Get more details and insights on how these league collaborations formed and the benefits Plexcity has produced in the Nov. 4, 2015 print issue of Credit Union Times.