Maryland, D.C. League Begin Committee Meetings Toward Partnership Approval
BALTIMORE, - Two weeks after they announced their plan to work towards a merger agreement, committees formed by board members from both the Maryland and District of Columbia credit union leagues met by conference call last week to begin the process of developing materials for their memberships to approve the partnership. The three committees are the Governance, Finance and Services committees. According to the Maryland League, the Services Committee will meet every Tuesday, focused on determining what types of services, products and benefits would be offered by the new association; the Finance Committee every Wednesday, focused on dealing with the financial issues between the two leagues; and the Governance Committee meets on Thursdays and will be developing the ballots for credit union voting in both areas and sorting out the legal issues of the proposed partnership. MDCUL President/CEO Mike Beall said the boards of both leagues want everything to go smoothly "so all the Committees are being very diligent in their review of what needs to happen. Both Boards had many discussions about some of these same issues before they made the decision to recommend the partnership to their credit unions." If the partnership is approved by the two leagues' respective memberships, the new organization will be called the Maryland and District of Columbia Credit Union Association.