Members Development Company, a credit union service organization, has added 10 new owners to its roster.
New credit union members include the $6.1 billion-asset Bethpage Federal Credit Union in Bethpage, N.Y.; the $2.7 billion-asset Tower Federal Credit Union in Laurel, Md.; and the $2.1 billion-asset GECU in El Paso, Texas.
MDC, which pools credit unions' resources together on such maneuvers as discovery and due diligence, now has 43 owners, according to the release.
"Cooperation is a basic credit union tenet, but it's one our industry doesn't always practice — often out of fear of giving away a competitive edge, when in fact it is fairly rare when another credit union is a key competitor" said MDC's chief executive Jeff Kline in the announcement.
