LANSING, MI (Dec. 13, 2011) – Today the Michigan and Illinois Credit Union Leagues announced they have formalized their collaborative partnership through a comprehensive agreement and reciprocal investments in two of their fee-based operations—the ICUL Service Corporation and CU Solutions Group. It represents the next step taken in the process the two organizations started earlier this year to work together more closely on behalf of each state’s credit union membership.
The partnership is a unique approach that facilitates deeper collaboration and leveraging of scale and resources across state lines. It allows each organization to collaborate and share ownership in each business unit.
Key initial areas of collaborative focus will be on trade association functions in education, compliance, information as well as on fee-based services through the shared ownership decision. To that end, the organizations have already started to co-market training events and have plans to collaboratively produce an online video series through CUBE TV aimed at addressing the needs of small asset sized credit unions. On the fee-based side, marketing agreements are already in place for card services and Invest in America, which will be expanded in 2012 to include an even broader spectrum of the solutions the organizations and their affiliates collectively provide. The bottom line for credit unions in both states will be a richer suite of resources that will be available to them as a result of the partnership.
“These partnering decisions make sense for both organizations,” said MCUL & Affiliates CEO David Adams. “The Illinois and Michigan Credit Union Leagues both have proven track records in the area of business solutions, and yet we offer very different products. By collaborating we are able to share our strengths and maximize what each brings to the table, and ultimately bring the most value to credit unions and members in both states,” said Adams.
The two leagues stress that the alliance creates a progressive understanding of the need to consolidate services and increase cooperation as a way to drive real cost-savings and expand solutions for member credit unions.
“Collaboration is the key to thriving in today’s economic climate,” said Illinois Credit Union League CEO Dan Plauda. “This partnership is a natural fit with our strategic goal of providing access to cost‐effective solutions for our affiliated members.”
The two trade associations first entered into a strategic alliance in January 2011 as a way to pool their collective resources and work together more closely on behalf of each state’s credit union membership.
About the Michigan Credit Union League & Affiliates
Organized in 1934, the Michigan Credit Union League is a trade association representing 318 credit unions statewide. Based in Lansing, the MCUL offers credit unions assistance in the areas of regulatory compliance, legislative advocacy, media advocacy and operational information. For more information, visit www.mcul.org and follow us on Twitter at www.twitter.com/MICreditUnions.
About the Illinois Credit Union League
The Illinois Credit Union League is the primary trade association for credit unions in Illinois, providing members with informational, legislative and educational services and advocacy. Membership is open to any credit union doing business and operating in accordance with the Illinois Credit Union Act or the Federal Credit Union Act. There are 374 credit unions in Illinois serving approximately 3 million consumers.