Mo., Kan. credit union associations to consolidate

The members of the Missouri Credit Union Association and the Kansas Credit Union Association voted this week to consolidate.

Effective Jan. 1, the two groups would become Heartland Credit Union Association and Shared Financial Solutions. The move is designed to strengthen the advocacy efforts of the organizations on local and national scales, according to a news release.

The Missouri Credit Union Association represents nine of the top 10 credit unions in the area, according to Springfield Business Journal list research. They are:
    •    BluCurrent Credit Union;
    •    Assemblies of God Credit Union;
    •    TelComm Credit Union;
    •    CU Community Credit Union;
    •    Foundation Credit Union;
    •    Community Financial Credit Union;
    •    Educational Community Credit Union;
    •    Metro Credit Union; and
    •    Mercy Credit Union.

America’s Credit Union, which ranked 10th on SBJ’s list, is not posted on the page of the association’s affiliates.

“While Heartland Credit Union Association will create financial efficiencies and enhanced service opportunities for credit unions, state-specific needs and local support will continue to be a high priority for us,” said Marla Marsh, president and CEO of the Kansas Credit Union Association, in the release.

The consolidated organization’s headquarters would be in Kansas City, but the groups would maintain branch offices in Jefferson City and Topeka, Kan.

The combined group would serve over 200 credit unions in both states. The Missouri Credit Union Association currently provides advocacy, education and financial services for 116 firms representing over $12 billion in combined assets and representing 1.5 million Missourians. The Kansas Credit Union Association serves firms representing 645,000 Kansas consumers, according to to the release.

The Kansas Credit Union Association’s Marsh and Don Cohenour, president and CEO of the Missouri Credit Union Association, both plan to retire in 2016. They’ve hired California-based O'Rourke & Associates to conduct a search for a new leader of the combined group.