FARMERS BRANCH, Texas-As the dates near for the three state votes to create the potential Cornerstone Credit Union League-which would consolidate the associations for Arkansas, Oklahoma and Texas-an online voter guide has been re-leased to advance the "business case" for the move.
All three leagues have posted on their respective websites a link to the Cornerstone Credit Union League voter guide. This online voter guide is password protected and only League-affiliated credit unions are al -lowed to access the site. To access the voter guide, Texas credit unions are being told to visit http://www.tcul.coop/ and click on the "Cornerstone Credit Union League Online Voter Guide" button.
In a recent message to its affiliates, TCUL described the website as containing "key documents to empower credit unions to make an informed decision" when they vote on the measure at a specially called meeting in their respective states this spring.
Texas league members will vote at TCUL's member meeting April 2-5 in Austin. Arkansas credit unions will vote on the measure on April 11, just prior to the Annual Meeting in Hot Springs. CUAOk members will vote at its annual conference May 13-15 in Norman, Okla.
A recent addition to the voter guide is a 15-minute video featuring Michael Kloiber, CEO of $2.9-billion Tinker FCU, Oklahoma City, Okla., and chairman of the Regionalization Task Force. In the video, Kloiber reviews the business case for consolidation gives reasons why he believes consolidation is in the best interest for credit unions in all states.
Kloiber also examines trends in consolidation, briefly reviews the proposed dues formula and governance structure, and offers a timeline for consolidation.
In December 2012, the boards of the three leagues announced their intention to pursue consolidation into a single regional league. CUs in all three states must vote in favor of the measure.
The voter guide site went live Feb. 1. In addition to the Kloiber video there are letters from the chairmen of the three Leagues explaining their position, as well as an FAQ section, financials, proposed board of directors, a sample ballot, and other key documents.
