Member Credit Unions Vote in Favor of MWCUA-NWCUA Merger
The industry’s first six-state trade group will represent more than 300 credit unions serving 12.3 million members.
Member credit unions of the Mountain West Credit Union Association and the Northwest Credit Union Association have voted to approve merging the two organizations on June 30, the associations said Thursday in a prepared joint statement.
Of the 80% of the eligible credit unions’ delegates who cast ballots, 92% voted in favor of the consolidation, according to the associations. Eight percent voted against the merger.
The merged six-state trade group will represent more than 300 credit unions in Arizona, Colorado, Idaho, Oregon, Washington and Wyoming, which serve more 12.3 million members.
“As associations in service to credit unions across these six states, we are humbled by the honor of serving organizations that create impact for people as they build their dreams,” MWCUA President/CEO Scott Earl and NWCUA President/CEO Troy Stang said in a prepared statement. “The results of the vote support the belief of both organizations’ boards of directors that creating a next-level association will enhance the strength and influence of credit unions’ voices.”
Earl will retire on June 30 following a 40-year career in the credit union movement. Stang will serve as president/CEO of the consolidated associations.
The strategic plan for the new association will ensure all six states represented are part of a proven advocacy model to keep the charters modern and relevant. A hyper-local approach will be expanded in state-level advocacy, while credit union voices at the federal level will become stronger with 12% of the U.S. Senate and 10% of the U.S. House represented within the six states, according to the prepared statement from the NWCUA and MWCUA.
“We look forward to delivering on the future that was imagined as we explored the merger,” Todd Marksberry, MWCUA board chair and president/CEO of the $3.6 billion Canvas Credit Union in Lone Tree, Colo., said. “This will include a vivid focus on advocacy, collaboration through the association’s foundation for greater community impact, and documenting and telling the story of that impact to support advocacy and growth.”
Jeff Adams, NWCUA board chair and president/CEO of the $1.7 billion Horizon Credit Union in Spokane Valley, Wash., said the new association will provide its member credit unions with an even richer array of professional development opportunities, advocacy opportunities, compliance services and business partnerships.