In a fresh sign of trade group consolidation, the Arizona and Colorado/Wyoming Credit Union Leagues announced Monday they have signed a letter of intent for a merger.
In a joint statement, the leadership of the two leagues said the merger presented a solution toward developing economic efficiencies and would provide "what credit unions expect from their league."
"While no official timeline has been developed, a membership vote is required and could be scheduled for early spring of next year," the statement said. Scott Earl, president/CEO of the Arizona League and a former CUNA executive, would become CEO of the new entity.
Mike Williams, chairman of the Colorado League and president/CEO of Colorado CU said following departure of the organization's president/CEO, John Dill, earlier this year the board decided to explore a merger "as the best solution for Colorado credit unions."
The joint statement said Denver would be the physical headquarters for the combined organization. Operation of a joint league follows another Western marriage, that of the Credit union Association of Oregon and the Washington Credit Union League due for completion by yearend.
Marsha Tynsky, chair of the Credit Union Association of Wyoming and president/CEO of Trona Valley Community FCU, said the proposed merger "will provide credit unions across the three states a chance to collaborate and share opportunities that ultimately help our members."