Cooperative Credit Union Association members overwhelmingly approve merger with Delaware Credit Union League
Earns CCUA distinction of being first, four-state league
MALBOROUGH, MA (June 20, 2016) — Members of the Cooperative Credit Union Association (CCUA) overwhelmingly approved a merger today with the Delaware Credit Union League. The merger was ratified by a vote of CCUA member credit unions from Massachusetts, New Hampshire and Rhode Island, during a special member meeting held in Marlborough, Mass.
The announcement follows on the heels of a vote to endorse the merger by Delaware Credit Unions a week earlier. As of July 1, they will be known as members of CCUA.
The newly merged organization will introduce an additional 18 credit unions to the 180-member credit union roster of the CCUA that will now extend its reach beyond New England in providing a wide range of services to its members, from advocacy and compliance to education and business operations and support. The addition of Delaware into the CCUA membership creates the first, four-state league/association within the U.S. credit union industry.
“July 1 kicks off a new era for the Cooperative Credit Union Association as we welcome Delaware Credit Unions to our cooperative organization,” said CCUA President Paul Gentile. “The addition of Delaware Credit Unions further strengthens our cooperative voice and ability to promote the values credit unions bring to America’s financial services industry with lawmakers and regulators, and the public, as well, through our Better Values. Better Banking. Campaign.”
Gentile stressed that one of the core tenets of the CCUA is local control of advocacy and maintaining a local brand. “Credit unions in each of our states gather regularly for advocacy committee meetings where they chart their advocacy paths based on their local knowledge and goals. We believe deeply that those advocacy decisions need to be made locally by the members in each state. We support those local advocacy decisions with our highly skilled advocacy team and resources. Delaware member credit unions will chart their course for advocacy starting July 1,” said Gentile. “They also will maintain their identity through the Delaware Credit Unions brand. We are excited to help our new Delaware credit union members add to their success.”
CCUA’s core services are Advocacy, Compliance and Education, though it has a vast offering of business services and a menu of services through its strategic partners. CCUA’s Better Values. Better Banking. consumer awareness effort stresses the value proposition that member-owned, not-for-profit credit unions deliver to consumers.
About Cooperative Credit Union Association
The Cooperative Credit Union Association is a regional trade organization serving as the voice for nearly 180-member credit unions located in the States of Delaware, Massachusetts, New Hampshire, and Rhode Island. CCUA member credit unions hold combined assets in excess of $73 billion and serve a collective membership base of more than 4.7 million consumers. Last year, CCUA credit unions provided more than $500 million in direct financial benefits to their members and had a combined financial impact of over $5 billion on their states. For more information, visit www.CCUA.org
