Maryland/DC League Eyes Possible Merger
The Maryland/DC Credit Union Association, which since last year has been scouting for a new president/CEO, has also been looking at a possible merger with one of its Mid-Atlantic neighbor leagues, it was reported Thursday.
Officials of the association were not immediately available for comment on the report but sources said "preliminary discussions" have been under way for some weeks with the New Jersey Credit Union League on a possible consolidation.
The framework and impetus for a merger or alliance follows similar league restructuring both on the West Coast and in the mid-continent with new alignments set up as part of a cost-cutting drive among leadership of the trade groups.
"This is similar to the linkup of the Colorado and Arizona leagues in which the Colorado league was recruiting for a new CEO and found one in Scott Earl," said one industry insider, referring to the president/CEO of the Arizona League and former CUNA executive who was picked to run the soon-to-be-consolidated Arizona/Colorado/Wyoming leagues.
A similar scenario is playing out this year with the joining of the new Northwest Credit Union Association, combining the Credit Union Association of Oregon and the Washington Credit Union League. John Annaloro, the veteran CEO of the Washington group, had indicated his plans to retire.
As for Maryland/DC, its leadership has been formally searching for a new CEO since last November, following the departure of Michael Beall, who left to take the top management slot at the Missouri Credit Union Association.