The boards of MCUL, CUcorp and CU Solutions Group have approved a plan to merge CUcorp into CUSG.
MCUL & Affiliates CEO David Adams said the CUcorp-CUSG merger is pending shareholder approval in two weeks at the CUSG shareholder meeting and would take effect on July 1.
At the same time, MCUL & Affiliates announced the resignation of Todd Mason, executive vice president and chief product officer for CU Solutions Group, and the hiring of Ken Ross, who will be executive vice president and COO over the trade association. Ross is returning to the league for a second stint. He formerly served the league as vice president of legislative and regulatory affairs, before becoming commissioner of what was then known as OFIR (now known as the Department of Insurance and Financial Services). Most recently, Ross has been general counsel for Citizens Bank. He will start his new job at the league on Aug. 5.
Mason is leaving to become chief product and marketing officer for RouteOne, a web-based credit application management system that provides dealers and finance sources the ability to manage their full book of business from a single portal. RouteOne is owned by Ally Financial, Ford Motor Credit, TD Auto Finance and Toyota Financial Services. Drew Egan will continue as Executive Vice President and COO of CU Solutions Group.
“Todd helped us form and lead CUSG after the merger of HRN and CU Village,” Adams said. “He has been creative, hard-working and immensely trusted by me in all of his duties. I will personally miss him and the organization is fortunate to have had him for the past 20 years.”
Adams also announced other staffing changes: