Mountain West Credit Union Association joins ‘Plexcity’ as shared owner
Latest addition increases return on investment for all stakeholders
DENVER, CO (May 23, 2016) — Mountain West Credit Union Association is purchasing a shared-ownership stake in Plexcity for information technology, accounting/finance, and human resource solutions, adding to the Ontario, CA-based company’s unique story of growing collaboration between credit union trade associations since January 2015.
Lowering expenses is just one of the reasons why Mountain West Credit Union Association is buying into and using Plexcity, according to President and CEO Scott Earl. Earl said “Plexcity’s solutions will translate into higher economies of scale, eliminate redundancies, allow for speedier and more efficient operations through a cloud-based portal, and help our association direct its full attention to serving member credit unions.”
As many trade associations explore how to financially thrive, Plexcity’s leaders say the company continues to follow its mission of offering efficient and innovative shared services in information technology, accounting/finance, and human resources. Since inception, Plexcity has worked to fully perform some or all of these functions for the associations it serves.
“The immediate effect of decreasing their expenses contributes to our members’ future stability,” said Tony Kitt, CEO of Plexcity. “All of our owners believe we are better at driving down costs together than we are individually. We are honored and excited the Mountain West Credit Union Association decided to join Plexcity and collaborate with other Plexcity partners to lower overall costs and increase member value.”
Kitt said the move is another signal that Plexcity’s cooperative model in sharing back-office resources is gaining momentum among credit union trade associations. “Credit unions are increasingly saying they want their associations to hone in what is most important for their benefit and continued success — and by sharing common functions through Plexcity, associations can focus on their members’ needs.”
Plexcity is reminding owners and clients that it strives to deliver a seamless support experience once systems are officially integrated, and that partnering with Plexcity provides an immediate return on investment in the form of cost savings.
The Mountain West Credit Union Association comes on board with five existing owners of Plexcity: the California and Nevada Credit Union Leagues, New Jersey Credit Union League, Maryland-D.C. Credit Union Association, Ohio Credit Union League, and Hawaii Credit Union League. Plexcity also currently serves one non-owner client—the National Association of State Credit Union Supervisors (NASCUS).
About Mountain West Credit Union Association
The Mountain West Credit Union Association is the regional trade association representing member credit unions, 4.2 million credit union members and $65 billion in assets throughout Arizona, Colorado and Wyoming. Founded in 2011, the Mountain West Credit Union Association serves and supports the interests of member credit unions through advocacy, community outreach, education and training, public affairs, regulatory and compliance services, and strategic partnerships. Follow us on twitter at twitter.com/mwcua, Facebook at facebook.com/mwcua and Instagram at instagram.com/mwcua. To learn more visit mwcua.com.
