HOT SPRINGS, Ark. Member credit unions of the Arkansas Credit Union League on Thursday unanimously voted in favor of the proposed Cornerstone Credit Union League, a single cooperative organization that would represent CUs in Arkansas, Oklahoma and Texas.
Arkansas credit union delegates cast their favorable votes during this week’s Annual Meeting & Convention here. On April 3, Texas CU League members voted 109 to five in favor of consolidation.
“A unanimous vote sends a strong message our credit unions are progressive and forward-thinking,” said Reta Kahley, president and CEO of the Arkansas CU League. “Our credit unions appreciate the tremendous amount of effort and research that has gone into this, and they trust that collaboratively, we will build an even stronger organization that they will find tremendous value in.”
ACUL Board Chair Dwayne Ashcraft added, “This is an exciting time for credit unions in Arkansas, Oklahoma and Texas. We are embarking on a future that will offer tremendous opportunities for our movement, and, perhaps most importantly, for the millions of consumers who trust our credit unions for their financial service needs.”
Member credit unions of the CU Association of Oklahoma are scheduled to vote in May. Delegates voting from all three states must vote yes on the measure for it to become official.
If Oklahoma credit unions approve, the Cornerstone Credit Union League will become official July 1. An initial board of directors will assume positions with three directors from Arkansas, three directors from Oklahoma, and 12 directors from Texas.
