Cornerstone of Change: Texas, Arkansas, Oklahoma League Merger Seen As Inevitable
When credit union members of the Texas Credit Union League were presented with the question whether to merge with Arkansas Credit Union League and the Credit Union Association of Oklahoma to form a new regional cooperative organization – the Cornerstone Credit Union League – there was a sense of quiet inevitability in the air.
“There was no debate, no questions or anything,” said John Lederer, president/CEO of the $1 billion Credit Union of Texas in Dallas, who voted for the proposal Wednesday during a TCUL special meeting in Austin. “I think it was a no-brainer, slam-dunk kind of thing.”
The merger proposal formally began last year when credit unions in each state were notified at their annual league meetings that the three leagues were discussing consolidation. On Dec. 17, the boards of the three leagues announced their intention to pursue consolidation into a single regional organization.
Although Cornerstone’s operations would be based in Dallas, an office will remain in each state capital to advocate and protect the interests of credit unions in their respective state legislatures.