The member credit unions of both the Kansas Credit Union Association and Missouri CU Association on Tuesday voted to unite to form a new entity to be known as Heartland Credit Union Association and Shared Financial Solutions.
The new organization will launch Jan. 1, 2016.
Town hall meetings were held prior to Tuesday’s vote. Kansas credit unions voted electronically and at a special membership meeting. Missouri credit unions voted electronically and at their annual meeting.
The KCUA and MCUA said combining their two associations will “strengthen the credit union voice” locally and nationally, and provide member credit unions with greater support, enhanced staff expertise and more opportunities for networking and training.
Heartland Credit Union Association will be headquartered in Kansas City, Mo., described as a halfway point. To ensure a strong advocacy presence, branch offices will be located in the capital cities of Topeka, Kan., and Jefferson City, Mo.
Current offices will remain in Wichita, Kan., and St. Louis.
The consolidation has been in the works for months, as Credit Union Journal first reported the two leagues had
“This historic vote unites two strong organizations with comparable philosophies and similar cultures,” Marla Marsh, president and CEO of the Kansas Credit Union Association, said in a statement. “While Heartland Credit Union Association will create financial efficiencies and enhanced services opportunities for credit unions, state specific needs and local support will continue to be a high priority for us.”
“We are moving forward with combining operations, aligning staff and preparing for a new look,” said Don Cohenour, president and CEO of the Missouri CU Association. “This collaboration creates greater opportunities for sustainability, strength and success for more than 200 credit unions in Kansas and Missouri.”
O’Rourke & Associates has been chosen to conduct the search for a new CEO. Marsh and Cohenour will stay on board until a new person is named. Both have made plans to retire in 2016.
The two leagues said integration of various products and services, as well as communications platforms, will occur throughout the next six months as they begin functioning as one, united organization. The boards of directors of KCUA and MCUA appointed a Joint Collaboration Task Force to create a vision and vehicle for the new organization.
The Kansas Credit Union Association was established in 1934. It is the trade association for credit unions in Kansas, serving more than 645,000 Kansas consumers.
The Missouri Credit Union Association supports the state’s credit unions, with more than $12 billion in combined assets and representing more than 1.47 million Missouri consumers.
