MWCUA, NWCUA boards explore combining organizations to amplify advocacy impact across six states
Combining the organizations would demonstrate the finest region-wide Credit Union Movement collaboration of its kind
DENVER, CO (February 1, 2022) — The Boards of Directors and leadership of the Mountain West Credit Union Association (MWCUA) and the Northwest Credit Union Association (NWCUA) announce a due diligence process to explore the merger of the two organizations.
With the pending retirement of MWCUA CEO Scott Earl, board chair of MWCUA and President & CEO of Canvas Credit Union, Todd Marksberry, in late 2021 convened a succession committee. This diverse and tenured group of credit union leaders explored all options while focusing on the MWCUA board’s desire to amplify advocacy, education, and community impact on behalf of Arizona, Colorado, and Wyoming credit unions.
“As a committee, while many choices were possible, we aligned quickly around a choice that would answer the question of accelerating the pace of change,” Mike Williams, Succession Committee Chair and President & CEO Colorado Credit Union said. “Credit unions need advocacy today and we believe that the exploration of a merger with NWCUA gives us a path to swift and exponential impact. People need credit unions, and we must position ourselves to serve even more people through powerful advocacy.”
Early discussions among the two associations point to the strengths of both organizations and the strong possibilities of leveraging the influence of the combined credit unions’ voice by maintaining laser-sharp focus on local advocacy. A letter of intent has been signed, and the due diligence process has begun.
“Exploring an opportunity to combine these two great organizations is a terrific next step that could enable credit unions to advance the Credit Union Movement in new and exciting ways,” Earl said.
If the merger commences, NWCUA President and CEO Troy Stang would serve as the President and CEO of the newly established Association.
“Credit unions in the Northwest and Mountain West regions are committed to proactive advocacy, education and community impact in an ever-evolving, complex financial services marketplace,” Stang
said. “When credit unions unite their voices, they can better ensure relevant services and continued value are available to all consumers. By leveraging the strengths of both Associations, member credit unions can expect a more influential voice in federal advocacy, and impactful results in hyper-local state legislative advocacy.”
The scope of the merger between MWCUA and NWCUA includes exploring the combination of both trade associations’ legacy service corporations, and foundation entities.
“With a focus on bringing the best possible operating environment through advocacy, community impact, strategic business partnerships, education and training, and public awareness, the credit unions in these six states would realize the maximum influence of their collective voice,” said Jeff Adams, NWCUA Board Chair and President and CEO of Spokane Valley, Washington-based Horizon Credit Union.
The partnership would honor the finest and proven traditions of the two organizations and their member credit unions creating the credit union association of the future, noted Todd Marksberry, MWCUA Board Chair, and President and CEO of Canvas Credit Union in Lone Tree, Colorado.
“This powerful collaboration would create a robust environment of strategic thinking and bright minds, and ultimately would empower this community of credit unions to enhance value and impact for their
12.3 million consumer members across the region,” Marksberry said.
“Given the synergies we already have seen, the boards are encouraged to enter the due diligence process. If comprehensive due diligence reveals a merger will be beneficial to all member credit unions, the boards of both associations will encourage a positive vote from membership in the spring and the merger would become official on
or before June 30, 2022.”
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.
About the Northwest Credit Union Association
The Northwest Credit Union Association is the trade association representing more than 175 not-forprofit, cooperative credit unions in Idaho, Oregon, and Washington, and their 8.1 million consumer
members. As not-for-profit cooperatives, credit unions look out for their members’ financial well-being.
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