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.
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In pursing the twice-delayed retirement, Hood, 66, is joining his fellow league veteran CEO, Gary Wolter, who is to step down from the helm of the Alabama League next July. The Alabama Board is expected to take up final approval of the Florida League consolidation at a meeting Dec. 9 with approval by the full membership at a special meeting in February. A similar scenario is expected by Florida CUs, also in February.
"Our board is now comfortable with the consolidation and the same I believe is true in Alabama," said Hood, noting that while the immediate need is for a two-state consolidation the combination may set a regional precedent for other area leagues to join up at a future date. However, "we've never had a Pac Man philosophy," he said referring to the eat-your-opponent video game.
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