A proposed merger of the credit union leagues of the Carolinashas officially gotten under way.

The boards of directors of the SouthCarolina Credit Union League and North Carolina Credit UnionLeague voted Thursday to recommend that their member creditunions approve consolidation of the two leagues.

The leagues did not release the vote count.

Each league will share details of the consolidation with itsmember credit unions in May and June, according to a jointstatement. The member credit unions are expected to vote on themerger question by September.

If the member credit unions approved the consolidation, the newleague would be created on Jan. 1, the statement said.

“Our board sees great promise in bringing together thesetwo leagues,” said NCCUL Chair Maurice Smith, president/CEO of the$1.2 billion Local Government FCU in Raleigh. “Consolidationprovides clear value and sets us on a path to successfully meet thechanging needs of credit unions in the Carolinas.”

Faye Crocker, SCCUL board chair and CEO of the $12 millionGreater Abbeville FCU, said, “Our board has concluded that aconsolidated league creates a financially strong organization thatcan deliver powerful and effective advocacy in Columbia, Raleighand Washington, D.C. for years to come. We are excited about thisopportunity and look forward to sharing more about our vision forthe new league with credit unions in the coming weeks.”

In December, the leagues formed a task force to assess whether aconsolidation would position both organizations to continue meetingthe needs of the nearly 90 credit unions in North Carolina and the69 credit unions in South Carolina.

In addition to the proposed merger of the North Carolina andSouth Carolina leagues, member credit unions of the Credit Union Association of Oklahoma are expected to vote nextweek to consolidate with the Texas Credit Union League and theArkansas Credit Union League, which already have approved thatproposed merger. If Oklahoma credit unions approve the merger, thethree leagues will operate under the Cornerstone Credit UnionLeague.