FARMERS BRANCH, Texas-A new state credit union association will begin operating effective July 1.
The Cornerstone Credit Union League, the result of a merger between the Texas, Oklahoma and Arkansas leagues, has officially begun business under its new name. In discussions for several years, natural-person credit unions in each state have voted in favor of the merge in separate elections this year.
Dick Ensweiler, president of the Texas league, will be president of the Cornerstone league, which will represent more than 600 credit unions, most of which are in Texas. That fact is reflected in the Cornerstone league's new board, which will have three directors each from Arkansas and Oklahoma, and 12 from the Lone Star State.
The goal of the league merger, one of several to take place in recent years among associations, is a reflection of the declining number of credit unions and the need to find greater efficiencies. Each league will continue to operate a local office in its home state in order to facilitate grassroots advocacy and representation in state government.
