MSCUA credit union members will vote on whether to approve the merger at the association’s annual meeting in May at the Beau Rivage Resort & Casino in Biloxi. After that vote, TCUL member credit unions will vote on the consolidation question, according to TCUL.

If approved, the merger will unite 187 credit unions into one trade organization led by TCUL’s president/CEO, Fred Robinson. Charles Elliott, current president/CEO of the MSCUA, will serve as chief advocacy officer for the Magnolia State.

“We are incredibly excited about the opportunity to merge our two associations and build something truly new and dynamic for credit unions in Tennessee and Mississippi,” Robinson said in a prepared statement. “This merger is not just about combining resources — it’s about creating a stronger, more innovative organization that will provide even greater support, advocacy and value to our member credit unions. From the very beginning, both boards and management teams were committed to ensuring that this was a true win-win for both states, always prioritizing the needs of the credit unions we serve.”

By joining forces, the trade groups said that as a combined organization they will be able to offer greater economies of scale and improved efficiencies while also providing Mississippi and Tennessee credit unions an enhanced selection of products and services.

Tennessee is home to 130 credit unions and 58 credit unions are based in Mississippi. TCUL managed assets of $7,780,934 and MSCUA posted assets of $2,954,049, according to their 2023 990 filings with the IRS.

Elliott also emphasized the advantages of the two organizations’ cultural similarities.

“A shared commitment to ongoing and enhanced credit union advocacy and support resources is always a top priority when combining leagues, but it is equally important that the organizations align on their culture, values and approach to fulfilling that commitment,” Elliott said in a prepared statement. “Fred, the TCUL team and board demonstrate a vision and dedication to credit union philosophy and values that resonates with me, our membership, board and staff. Our associations are a great fit.”

Elliott also said the leadership of the combine trade groups would ensure their ongoing support for small credit unions as a top priority. He noted that TCUL and MSCUA plan to establish and fund a 501(c) (3) foundation to help support grant resources for small credit unions in both states.