Friday, June 03, 2011 11:34:00 AM
HIGHTSTOWN, N.J. - The New Jersey Credit Union League and the Maryland and District of Columbia Credit Union Association have decided against the merger the two organizations had been exploring since February.
Each association created a merger committee to facilitate the due diligence process. The committees found some compelling reasons to merge and regionalize, a trend occurring with leagues in several other parts of the country. However the boards determined that at this time the best course of action for affiliated member credit unions was to remain independent.
"It was an open, interactive process between both associations," said Shawn Gilfedder, CEO of McGraw-Hill FCU and NJCUL Board Chairman. "The committees did an excellent job exploring the organizations and identifying the positives and negatives in merging two well-established associations."
Both NJCUL and MDDCCUA are financially healthy and provide robust member service to their affiliate base, making a merger a matter of choice, not necessity.
NJCUL will continue to focus on branding and communications with its well-established "Banking You Can Trust" consumer campaign, created by NJCUL President/CEO Paul Gentile, and revamped state legislative efforts.