Members of the Cooperative Credit Union Association (CCUA) "overwhelmingly approved" a proposed merger between CCUA and the Delaware Credit Union League (DCUL).
CCUA, which serves credit unions in Massachusetts, New Hampshire and Rhode Island, indicated that the addition of Delaware into its membership will create the first ever "four-state league/association" within the U.S. credit union industry.
The transaction, CCUA noted, was ratified by a vote of CCUA's member credit unions during a special meeting held in Marlborough, Mass.
Credit unions in Delaware had already approved the merger a week prior.
The merger—which will add 18 credit unions to CCUA's 180-CU roster—is effective July 1.
"July 1 kicks off a new era for the Cooperative Credit Union Association as we welcome Delaware Credit Unions to our cooperative organization," said CCUA President Paul Gentile in a statement. "The addition of Delaware Credit Unions further strengthens our cooperative voice and ability to promote the values credit unions bring to America's financial services industry."
Gentile added that CCUA will continue to emphasize "local control of advocacy" and the adherence of a "local brand."
"Credit unions in each of our states gather regularly for advocacy committee meetings where they chart their advocacy paths based on their local knowledge and goals," he said. "We believe deeply that those advocacy decisions need to be made locally by the members in each state. We support those local advocacy decisions with our highly skilled advocacy team and resources. Delaware member credit unions will chart their course for advocacy starting July 1. They also will maintain their identity through the Delaware Credit Unions brand."
