LITTLE ROCK, Ark.(4/12/13)--Arkansas Credit Union League member credit unions unanimously voted Thursday in favor of a single cooperative organization--the Cornerstone Credit Union League. The league will represent the interests of member credit unions in Arkansas, Oklahoma and Texas, according to the Texas Credit Union League.
Arkansas credit union delegates cast their votes during their Annual Meeting and Convention in Hot Springs, Ark.
"A unanimous vote sends a strong message--our credit unions are progressive and forward-thinking," said Reta Kahley, ACUL president/CEO. "Our credit unions appreciate the tremendous amount of effort and research that has gone into this, and they trust that collaboratively we will build an even stronger organization that they will find tremendous value in."
If member delegates from all three states approve, the Cornerstone Credit Union League will become official July 1.
Texas credit unions approved the consolidation April 3. If Oklahoma credit unions vote yes in May, an initial board of directors will assume positions on the consolidated league with three directors from Arkansas, three directors from Oklahoma, and 12 directors from Texas.
"This is an exciting time for credit unions in Arkansas, Oklahoma and Texas," said ACUL Board Chair Dwayne Ashcraft. "We are embarking on a future that will offer tremendous opportunities for our movement, and, perhaps most importantly, for the millions of consumers who trust our credit unions for their financial service needs."
For a directory of the initial board of directors, use the link.