After CEO Retirement Announcement, Minn. League Says It Will Remain Independent

When the Minnesota Credit Union Network announced last week the planned retirement of its 15-year president/CEO Mark Cummins in 2023, it also announced plans to remain an independent trade organization.

“The MnCUN board of directors has established a search committee after having thoroughly discussed and unanimously approving to independently continue as the Minnesota Credit Union Network,” Mary Hansen said in a prepared statement. Hansen serves as MnCUN’s board chair and is president/CEO of the $1.4 billion Mayo Employees Federal Credit Union in Rochester, Minn.

“The Network remains a strong league, financially healthy and the best trade association for Minnesota’s credit unions,” she added. “The board and staff are all very happy for Mark and his family, and so very appreciative for all that he has done for credit unions in Minnesota and nationwide throughout his tenure.”

MnCUN’s statement of independence may have been a reaction to this year’s two major league consolidations.

The first was completed on June 30 when the former Mountain West and Northwest Credit Union Associations officially merged and now operate under the new brand name of GoWest Credit Union Association, which was announced on Tuesday. The merger was initially announced in February after MWCUA CEO Scott Earl said he was planning to retire in June.

GoWest is the industry’s first six-state trade group that represents more than 300 credit unions, 33,000 employees and their 16.5 million consumer members across Arizona, Colorado, Idaho, Oregon, Washington and Wyoming.

On June 24, the Cornerstone Credit Union League and Heartland Credit Union Association announced they are looking to combine their organizations, which would create the industry’s first five-state trade group representing up to 718 credit unions in Arkansas, Kansas, Missouri, Oklahoma and Texas that serve 14 million members.

That announcement came after six-year Heartland Credit Union Association President/CEO Brad Douglas resigned in May, according to his LinkedIn page, to become a partner for PLX CORP in Kansas City, Mo., which promotes itself as offering innovation and tools to improve governance, recruitment, accountability, process, visioning, internal controls, risk management, leadership development and analytics for non-profit organizations.

He was succeeded by Lisa Althoff Simmons as interim CEO. She has served Heartland since 2017 as its general counsel and vice president of compliance, according to her LinkedIn page.

But not all retirements or resignations of league CEOs mean a merger is likely. For example, when Ken Watts retired as president/CEO of the West Virginia Credit Union League in April 2021 after 46 years of service, Rich Schaffer was named the new leader of the trade organization.

In addition to the West Virginia League, there are currently 22 one-state leagues.

“Serving as president of the Minnesota Credit Union Network has been the honor of a lifetime. To work with the incredible staff at the Network has been a privilege that far too few people have the opportunity to enjoy,” Cummins said in a prepared statement. “The Network has a bright future, and I will support the transition to new leadership in every way I can.”

In addition to his work in Minnesota, Cummins has served the American Association of Credit Union Leagues as board chair, the CUNA Executive Committee, the board of directors of CUNA Strategic Services and the National Advocacy Committee. He currently serves on CUNA’s World Affairs Committee and was recently honored with the 2022 Farley Leadership Award.

Cummins will remain in his role through April of 2023.

MnCUN serves credit unions that manage $36 billion in assets and operate 400 branches across Minnesota, serving two million members. There are 90 federally insured credit unions currently based in the North Star State, according to the NCUA.