SEATAC, WA (December 20, 2017) — The Board of Directors of the Northwest Credit Union Association (NWCUA) and the Idaho Credit Union League (ICUL) have signed a letter of intent to merge the ICUL and its service corporation, League Services, Inc, into the NWCUA and its service corporation, Strategic Link, Inc. The respective boards signed the letter last week, and approved a Merger Agreement with a “do pass” recommendation to their member credit unions.
The two trades and their member credit unions have effectively demonstrated what is possible with a three-state collaboration. Under a Strategic Alliance agreement that began Jan. 1, 2017, the NWCUA manages the ICUL. State advocacy advanced in all three states, credit union employees collaborated at professional development councils and other events, and the organizations recent jointly hosted MAXX Convention attracted nearly 1,000 attendees.
“Along this journey, the Boards have shared their collective desire to ensure the next steps would formalize this three-state collaboration and continue to build on the strengths of all legacy organizations and the credit unions who support them,” said Brooke Van Vleet, NWCUA Board Chair and President/CEO of St. Helens Community Credit Union in St. Helens, Oregon. “The Boards’ end in mind remains focused on achieving the maximum long-term benefits on behalf of all member credit unions.”
“The Boards and management believe this approach serves the future needs of member credit unions in all three of our Northwest states,” stated Kent Oram, ICUL Board Chair and President/CEO of Pocatello, Idaho-based Idaho Central Credit Union. “Both ICUL and NWCUA Boards believe the recommended merger will increase the strength of the voice, influence, and impact of this new three-state world-class trade association. Together, we continue to advance this Northwest Credit Union Movement with the leadership our member credit unions expect.”
The Merger Agreement addresses distribution of ICUL Equity with specific recommendations:
The Merger Agreement and recommendation addresses governance by a Board of Directors consisting of up to fifteen (15) Directors; nine currently elected Directors of the NWCUA and three newly appointed Directors, as chosen by and from the ICUL/LSI Board of Directors. The ICUL Board recommends to the membership Oram, Trisha Baker, President/CEO of Lewiston-based Lewis Clark Credit Union, and Dan Thurman, President/CEO of East Idaho Credit Union, Idaho Falls, as the Idaho leaders to serve in this continuing governance role.
The ICUL and NWCUA Boards also agreed that Troy Stang, currently NWCUA President and CEO, will continue in that role in the three-state trade organization.
“We have seen many examples this year of what happens when the strength of multiple state trade associations come together to excite a stronger voice regionally and nationally,” Stang said. “Our commitment is to empower the local advocacy and public awareness of individual credit unions on Main Street, and in their respective state capitols.”
ICUL and NWCUA member credit union leadership has been invited to a series of regional Town Hall meetings in 2018, to share their input and to discuss further details of the Merger Agreement. Pending approval of NWCUA and ICUL member credit unions by the fall of 2018, the merger would be effective Dec. 31, 2018.
The Northwest Credit Union Association is the trade association representing more than 175 not-for- profit, 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. Everyone should open their eyes to a credit union. For more information, please visit: https://yourmoneyfurther.com
Lynn Heider
503.329.7208 | lheider@nwcua.org
Jenny Miller
jmiller@nwcua.org
208.713.9596 (Mobile)
