TALLAHASSEE, Fla. — Consolidation of the Florida and Alabama Credit Union Leagues, formally announced last June as a model to "create economic efficiencies," is well on track in 2009 with board approval expected at meetings next month, it was reported this week.

In a related development, the veteran president/CEO of the Florida League, Guy Hood, who was slated to retire Dec. 31 will stay on through June 2009 when a new manager is hired and a new corporation, combining the two leagues, is set to begin operations.

The consolidated firm, with a new name and a marketing brand, will be incorporated in Alabama but with a Florida address, said Hood, noting the new CEO would have the input "on whether the headquarters would be in Tallahassee or elsewhere in Florida." Regardless, both leagues under the new entity would retain a legislative presence and advocacy in the respective state capitols.