Teubner: Jury Still Out on Western Leagues Merger
ARLINGTON, Va. — While the merger of the Arizona, Colorado and Wyoming leagues will save money, it remains to be seen how well the merger will work.
That was the assessment of Stephanie Teubner, president/CEO of Warren FCU of Cheyenne, Wyo.
“You have economic factors that remain to be seen,” said Teubner, who was interviewed by Credit Union Times Editor-in-Chief Sarah Snell Cooke at an April 11 luncheon meeting of the Metropolitan Area Credit Union Management Association. MACUMA membership overlaps with the Maryland & DC Credit Union Association, which is considering a possible merger with the New Jersey league.
She said there will still be offices in each of the three states, though some of them may have to be adjusted. In addition, they will keep separate lobbying staffs for each individual state, though they will combine efforts when dealing with national issues.
Teubner, who is on the board of the Wyoming league, noted that the building that housed the Colorado league in downtown Denver would likely rent some of its extra space to CUSOs in the area.
She estimated that the league affiliation rate in each of the three states is high: 100% in Arizona, 95% in Colorado and 90% in Wyoming.
Teubner said the consolidation of the leagues, which received final approval last month, could save money for individual credit unions, which would be especially helpful for smaller institutions.
“I am concerned about what we will do to help the viability of small credit unions,” said Teubner, whose credit union is the largest in her state and has assets of $207 million.
League consolidation has been in motion since 2007 when the North and South Dakota Credit Union Leagues formed what is now the CU Association of the Dakotas.
In February, the NJCUL and the MDDCCUA said they were exploring a possible merger.
New consolidations have sprung up in the last year among the Alabama and Florida leagues and by the Washington and Oregon Credit Union Association with new back-office ties under way among the Illinois and Michigan leagues.