Press
‘Plexcity’ officially launches with unique shared-services vision
Three Leagues Partner on Accounting/Finance, Human Resources, and Information Technology
(January 6, 2015) — In the true spirit of collaboration, the California Credit Union League, Maryland and District of Columbia Credit Union Association, and New Jersey Credit Union League embraced cooperative principles to form a new shared-services company, effectively aggregating their accounting and finance, human resources, and information technology departments.
Plexcity officially started business operations on Jan. 2, 2015. These three leagues took a page out of the credit union playbook in looking for ways to increase member value through a greater focus on core business offerings, improving efficiency by lowering overall costs, and sharing talent and expertise across organizations.
“We made the commitment to follow through on this collaboration, to ask the right questions, and complete the due diligence to determine if this was the right course of action,” said John Bratsakis, president and CEO of the Maryland/D.C. Credit Union Association and chairman of Plexcity. “After 14 months of building and critiquing the business plan, we know we made the right decision.”
Plexcity successfully integrated the human resources function of the three organizations during the month of December by standardizing employee benefits and payroll processing systems, which garnered immediate savings.
“Once the accounting-finance and information technology integrations are complete, the redundant systems will be eliminated and the savings will be even greater,” said Tony Kitt, CEO of Plexcity.
Additionally, the integration process is underway for the accounting/finance and information technology departments, an initiative taking place during the next several months.
About the California Credit Union League
With headquarters in Ontario, CA, the California Credit Union League is the trade association representing the interests of nearly 370 credit unions in California and their 10 million members. For more information, go to www.ccul.org.
About the Maryland and District of Columbia Credit Union Association
(MDDCCUA) is a regional trade association representing 158 credit unions in Maryland and the District of Columbia. MDDCCUA provides our affiliates with advocacy, education, resources, and services to help them better serve their members. For more information, go to www.mddcua.org
About the New Jersey Credit Union League
Founded in 1934, the New Jersey Credit Union League is the trade association for credit unions in the state and is committed to the development of the credit union movement in New Jersey. Our mission includes a full range of services, programs, products and money-saving opportunities specifically designed to satisfy a credit union’s operational, financial, training, compliance and overall growth and development needs. For more information, go to www.njcul.org
About the Plexcity Cooperative Association
Founded by the California Credit Union League, the Maryland and District of Columbia Credit Union Association, and the New Jersey Credit Union League, and headquartered in Ontario, CA, Plexcity Cooperative is a shared service company that provides accounting and finance, human resources, and information technology services to trade association across the country. For more information, go to www.plexcity.org.