Member credit unions of the Texas Credit Union League have “overwhelmingly voted” in favor of merging with the Arkansas Credit Union League and the Credit Union Association of Oklahoma to form a new regional cooperative organization – the Cornerstone Credit Union League.
“Texas credit union delegates cast their favorable votes Wednesday during TCUL’s special member business meeting in Austin,” TCUL said in a statement. The meeting was held in conjunction with TCUL’s Texas Governmental Affairs Conference and Member Meeting & Expo that will end Friday.
TCUL did not release a vote count. There are approximately 535 credit unions in Texas, and 131 altogether in Arkansas and Oklahoma.
The credit union members of the Arkansas Credit Union League and the Credit Union Association of Oklahoma will vote on the consolidation proposal on April 11 and May 13, respectively.
“A tremendous amount of work, research, and consideration has gone into this measure,” TCUL President.CEI Dick Ensweiler said. “I applaud our member credit unions for recognizing and respecting the power of collaboration.”continue reading »