Mountain West & Northwest CU Associations Explore Proposed Merger

Organizations begin a due diligence process to determine whether a consolidation would benefit member credit unions.

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The boards of directors and leaders of the Mountain West Credit Union Association and the Northwest Credit Union Association said Tuesday they have started a due diligence process to explore merging the two organizations, which would create the industry’s first six-state state league of 308 credit unions and 12.3 million members.

Once MWCUA CEO Scott Earl announced late last year his plan to retire in June 2022, the MWCUA succession committee began discussing the next steps for the organization, which represents credit unions in Arizona, Colorado and Wyoming.

“As a committee, while many choices were possible, we aligned quickly around a choice that would answer the question of accelerating the pace of change,” Mike Williams, succession committee chair and president/CEO of the $304 million Colorado Credit Union in Littleton, said in a joint prepared statement. “Credit unions need advocacy today and we believe that the exploration of a merger with NWCUA gives us a path to swift and exponential impact. People need credit unions, and we must position ourselves to serve even more people through powerful advocacy.”

The NWCUA represents credit unions in Idaho, Oregon and Washington.

Todd Marksberry, MWCUA board chair and president/CEO of the $3.6 billion Canvas Credit Union in Lone Tree, Colo., said if the comprehensive due diligence reveals a merger will be beneficial to all member credit unions, the boards of both associations will encourage their members to vote for the consolidation in the spring. If the merger is approved, the merger would become official on or before June 30, 2022.

NWCUA President/CEO Troy Stang would lead the six-state association, according to the joint prepared statement.

“When credit unions unite their voices, they can better ensure relevant services and continued value are available to all consumers,” Stang said. “By leveraging the strengths of both associations, member credit unions can expect a more influential voice in federal advocacy, and impactful results in hyper-local state legislative advocacy.”

The scope of the proposed merger would include exploring the consolidation of both trade associations’ legacy service corporations and foundation entities.

Marksberry also said the partnership would honor the finest and proven traditions of the two organizations and their member credit unions, creating what he described as the credit union association of the future.

This is the first proposed state association consolidation since January 2020 when the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged, becoming the CrossState Credit Union Association.