DENVER -- Westerra Services, Inc. and Nice Enterprises recently entered into an agreement to offer a comprehensive merger product to assist credit unions in all aspects of the merger process.
Westerra Services is the new car repossession assistance CUSO launched by $900 million Westerra Credit Union (see story on p. 33). The CUSO and Nice Enterprises, a consulting firm serving more than 750 CUs, will put together a merger kit that contains resource tools for the various stages of merging including conceptual agreements, preliminary agreements, talking points, final agreements, announcement of the merger plan, the campaign for member approval, regulatory plan and approval, operational integration, post conversion resource allocation, merger evaluation, post merger assessment, and preparation and positioning for the next merger.
"The credit unions gain the ability to expand with more branches, build capital, attract and retain quality staff and leadership, enhance buying power, and offer additional products and services for members--positioning the combined credit unions for greater success than each could achieve individually," said C. Alan Peppers, president/CEO of Westerra CU.
Westerra CU recently completed two mergers with assistance from Ron Nice, president/CEO of Nice Enterprises, the CU said.
The merger kit is scheduled to be finalized later this year, according to Westerra Services.