AUSTIN, Texas-The first step for a potential consolidation of the credit union associations for Arkansas, Oklahoma and Texas went forward last week as member CUs of the Texas League voted in favor of what is being called the Cornerstone Credit Union League.
TCUL officials said the vote was "overwhelmingly" in favor of consolidation, with 109 approving and only five opposed. TCUL hosted a special member business meeting here in conjunction with its GAC and Member Meeting. Arkansas league affiliates will vote on the measure this week and member CUs of the CU Association of Oklahoma will vote in May. Delegates voting from all three states must vote yes on the measure for it to become official.
"A tremendous amount of work, research and consideration has gone into this measure," TCUL President and CEO Dick Ensweiler said. "I applaud our member credit unions for recognizing and respecting the power of collaboration."
"This is an exciting time for our movement, and the first step toward the realization of the Cornerstone Credit Union League," said Paul Trylko, president and CEO of Amplify FCU and chair of TCUL's board of directors. "We have an extraordinary amount of talent and passion in all three organizations, and I am confident in the future of the Cornerstone Credit Union League."
If Arkansas and Oklahoma credit unions vote yes, an initial board of directors will assume positions on the Cornerstone Credit Union League board of directors with three directors from Arkansas, three directors from Oklahoma, and 12 directors from Texas. A directory of the initial board of directors can be found online at www.cornerstoneleague.coop.
If member delegates from all three states approve, the Cornerstone Credit Union League will become official July 1.
