Press
North and South Carolina League Boards Create Consolidation Task Force
COLUMBIA, SC/RALEIGH, NC – The NC Credit Union League (NCCUL) and SC Credit Union League (SCCUL) Boards of Directors announced today their unanimous votes to move forward with a process to formally consider consolidation of the two leagues. Their votes authorize creation of a six-member Consolidation Task Force consisting of three board members from each state.
The Consolidation Task Force will assess whether consolidation best positions both organizations to continue meeting the needs of credit unions in North and South Carolina. Further movement toward consolidation would be subject to approval by each board and the membership of each organization.
“For the past year the South Carolina Credit Union League Board of Directors has been engaged in a process to determine the strategic future of the organization,” said SCCUL Chairwoman Faye Crocker, acknowledging the retirement of current President and CEO Steve Fowler at the end of 2013. “We are excited about the creation of the Consolidation Task Force and look forward to sitting down with our friends from North Carolina to talk more about the future of our organizations.”
The two associations share a long history of collaboration including joint ownership in multiple entities, and they share a foundation and corporate credit union. Perhaps most importantly, credit union leaders in both states know each other and have developed strong working relationships through the years.
“We have established great trust and mutual respect with the South Carolina Credit Union League and its credit unions over the years,” shared NCCUL Chairman Maurice Smith. “Both boards continue to look to the future to ensure we have the strongest possible league to serve credit unions in the Carolinas for years to come. We look forward to examining that issue through the Consolidation Task Force.”
Individuals slated to serve on the Consolidation Task Force include: Faye Crocker of Greater Abbeville FCU, Linda Weatherford of SPC CU, and Nick Wodogaza of Palmetto Citizens FCU on behalf of SCCUL; and Maurice Smith of LGFCU, Patty Idol of Mountain CU, and Jeff Jones of Freedom FCU on behalf of NCCUL.
The North Carolina Credit Union League is the state trade association for the nearly 90 NC credit unions. Credit unions are not-for-profit financial institutions that are owned and controlled by their members. More than 3.3 million people in NC are members of a credit union. For more information on credit unions, please visit www.asmarterchoice.org.
The South Carolina Credit Union League was founded in 1934 with significant involvement of credit union pioneer Roy F. Bergengren. The association of 72 credit unions based in the Palmetto State exists to enhance their long-term success and viability. South Carolina’s not-for-profit institutions protect assets exceeding $10 billion that belong to more than 1.3 million members.