The Cornerstone Credit Union League announced earlier this month that it became the ninth state trade association to join Plexcity, an Ontario, Calif.-based CUSO.
Plexcity reduces operational costs by standardizing the leagues' back office functions of IT, accounting, finance and human resources, which are managed from the same technology platform.
"We want to continue to ensure we are responsible to our membership and its investment in Cornerstone, Credit Union Resources, and the Cornerstone Credit Union Foundation," said Cornerstone President/CEO Caroline Willard. "This step will allow Cornerstone to focus on being more progressive in our service offerings and delivery to our membership."
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Each league that joins the CUSO pays an initial share investment. How much each league pays for Plexcity's ongoing operations is determined by the amount of hours and personnel it uses for IT, HR accounting and finance needs.
"The increased efficiencies to Cornerstone as a result of a relationship with Plexcity will become evident to Cornerstone's membership over time," Plexcity CEO Tony Kitt said. "Plexcity's experience in serving credit union associations and in the areas of information technology, accounting, and human resources allows the association to focus on creating member value while at the same time lowing overall costs."
The CUSO was formed in 2015 by John Bratsakis, president/CEO of the Maryland-District of Columbia Credit Union Association, Greg Michlig, former president/ CEO of the the New Jersey Credit Union League, and Diana Dykstra, president/CEO of the California Credit Union League and and Nevada Credit Union League.
Since then, other state leagues that have joined Plexcity are the Ohio Credit Union League, the Hawaii Credit Union League, the Credit Union League of Connecticut and the Mountain West Credit Union Association.
The National Association of State Credit Union Supervisors also is a member of Plexcity.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
