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CU System
Future Catalyst Corporate completes 35 town hall meetings
DULUTH, Ga. (4/6/11)--Management from Georgia Corporate FCU and Southwest Bridge Corporate FCU Friday completed its town hall tour to spread word about their proposal to consolidate into a new corporate, called Catalyst Corporate. During March, the two corporates hosted 35 in-person meetings in eight states--Georgia, Texas, Oregon, Washington, Oklahoma, Louisiana, Arkansas and New Mexico--and two webinars. More than 950 individuals from about 470 credit unions attended. "The attendees had thoughtful questions that demonstrated how much consideration had already gone into their decision about capitalization," said Dianne Addington, CEO of Plano, Texas-based Southwest Bridge Corporate. "By and large, the response was very positive--strengthening our confidence that members will support the plan." According to Greg Moore, CEO of Duluth, Ga.-based Georgia Corporate, "we have kept in close contact with our member credit unions about the evolving plans for months, so members already were well-informed. But the Town Hall meetings were invigorating because we were able to talk to our members about the details and share our excitement about the upcoming consolidation." Moore acknowledged that some credit union leaders are understandably apprehensive about what the consolidation and other changes on the horizon will mean. The meetings provided an opportunity to answer questions "and provide reassurance that the consolidation will have a positive impact on the service and support members have come to expect. I believe that many final reservations were eliminated through these discussions," he said, adding, "the more credit unions know about our strategy, the more likely they are to support it." Addington noted that "this does not mark the end of our robust efforts to ensure credit unions have all the information they need to understand the new business model--we will be reaching out to them at chapter meetings, through correspondence and one-on-one as often as possible." The two corporates announced their intention to consolidate late in 2010. The planned consolidation date is Aug. 1.


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