The Cornerstone Credit Union League announced in January that it became the ninth state trade association to join Plexcity, an Ontario, Calif.-based CUSO.
Plexcity reduces operational costs by standardizing the leagues' back-office functions of IT, accounting, finance and human resources, which are managed from the same technology platform.
"We want to continue to ensure we are responsible to our membership and its investment in Cornerstone, Credit Union Resources and the Cornerstone Credit Union Foundation," Cornerstone President/CEO Caroline Willard said. "This step will allow Cornerstone to focus on being more progressive in our service offerings and delivery to our membership."
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Each league that joins the CUSO pays an initial share investment. How much each league pays for Plexcity's ongoing operations is determined by the amount of hours and personnel it uses for IT, HR accounting and finance needs.
"The increased efficiencies to Cornerstone as a result of a relationship with Plexcity will become evident to Cornerstone's membership over time," Plexcity CEO Tony Kitt said. "Plexcity's experience in serving credit union associations and in the areas of information technology, accounting and human resources allows the association to focus on creating member value while at the same time lowing overall costs."
The CUSO was formed in 2015 by John Bratsakis, president/CEO of the Maryland-District of Columbia Credit Union Association; Greg Michlig, former president/CEO of the New Jersey Credit Union League and Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues.
Since then, other state leagues that have joined Plexcity are the Ohio Credit Union League, the Hawaii Credit Union League, the Credit Union League of Connecticut and the Mountain West Credit Union Association. The National Association of State Credit Union Supervisors is also a member of Plexcity.
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