New Jersey, DC/MD Leagues Abandon Merger Plans
HIGHTSTOWN, N.J. and COLUMBIA, Md. – The Maryland and District of Columbia CU Association and the New Jersey CU League said they will not pursue a merger and will remain independent of each other.
The two associations had announced plans in February to form exploratory committees to look into a potential merger, and had hosted discussion groups with their respective affiliates about such a combination.
In a statement, the two leagues said, “While the merger committees found some compelling reasons to merge and regionalize as is occurring with Leagues in other parts of the country, the boards determined at this time the best course of action for affiliated member credit unions was to remain independent. With much discussion between both parties it was decided the timing of a merger was not optimal.”
The MDDCCUA serves 129 CUs; the NJCUL 153 CUs.