COLUMBIA, SC and RALEIGH, NC (May 9,2013) In independent meetings held May 9, the boards of directors of the South Carolina Credit Union League (SCCUL) and North Carolina Credit Union League (NCCUL) voted to recommend that member credit unions in both states approve consolidation of the two leagues. The votes acknowledge that the resulting league would be stronger and better positioned to serve credit unions in the Carolinas for years to come.
The new league would draw financial strength and stability from a broader base of credit unions to serve, a solid equity position, and league service corporations with track records of success. The consolidation of talented staff from both organizations would allow the new league to enhance its delivery of core association services: advocacy, compliance, and professional development.
“Our board sees great promise in bringing together these two leagues,” said NCCUL Chairman Maurice Smith. “Consolidation provides clear value and sets us on a path to successfully meet the changing needs of credit unions in the Carolinas.”
Each league will share details with its member credit unions in May and June. Final membership votes in each state are expected by September with a proposed effective date of January 1, 2014 for the new league.
“Our board has concluded that a consolidated league creates a financially strong organization that can deliver powerful and effective advocacy in Columbia, Raleigh, and Washington, DC for years to come,” shared SCCUL Chairwoman Faye Crocker. “We are excited about this opportunity and look forward to sharing more about our vision for the new league with credit unions in the coming weeks.”
The North Carolina Credit Union League is the state trade association for the nearly 90 NC credit unions. Credit unions are not-for-profit financial institutions that are owned and controlled by their members. More than 3.3 million people in NC are members of a credit union. For more information on credit unions, please visit www.asmarterchoice.org.
The South Carolina Credit Union League was founded in 1934 with significant involvement of credit union pioneer Roy F. Bergengren. The association of 69 credit unions based in the Palmetto State exists to enhance their long-term success and viability. South Carolina’s not-for-profit institutions protect assets exceeding $10 billion that belong to more than 1.3 million members.