The Partnership FCU President and CEO, Theresa Mann, discusses mergers at MACUMA holiday dinner
ARLINGTON, VA (December 17, 2015) — President and Chief Executive Officer of The Partnership Federal Credit Union, Theresa Mann, addressed the Metropolitan Area Credit Union Management Association (MACUMA) Holiday Dinner of over 100 participants on December 7, and discussed mergers and how they can work for both credit unions.
Mann participated in a discussion with Andy Keeney, nationally recognized credit union attorney and co-chair of Kaufman & Canoles’ credit union team, on how the traditional merger model generates a single “surviving” credit union. The traditional model can be a major hurdle that potentially blocks many mergers that could be mutually beneficial to each credit union. Mann and Keeney discussed the merger decision process and options available for credit unions looking to retain a degree of autonomy while benefitting from the synergies of partnering with another credit union.
“At The Partnership FCU, we believe in building value through partnership,” said Theresa Mann. “When credit unions merge with integrity and complete transparency across the board, the partnership provides the best value and experience to the collective memberships.”
Mann has helped execute two successful mergers, first the merger between the FDIC FCU and NSF FCU to become The Partnership FCU in 2009, and then with Fannie Mae FCU in 2012. These mergers led to a Credit Union that has delivered value back to its membership through a vast array of innovative products, state-of-the-art account access services and through the Value In Partnership (VIP) loyalty program.
MACUMA is a Washington, D.C.-based trade association, founded in 1958 and committed to providing its members with educational programs and networking opportunities throughout the year. The membership is comprised of D.C. area credit union executives, volunteers and vendor-partners.
About The Partnership Federal Credit Union
The Partnership FCU (thepartnershipfcu.com), with the core purpose to serve people who advance and promote the interests of the public, has over $146 million in assets and serves 12,000 members with the belief that every member deserves value through partnership.