DCUL Chairman Joel Romaine addressing delegates at the Special Meeting to consider the merger.
a special meeting held last week, member credit unions of the Delaware Credit Union League voted 28-0, to approve the merger of the Delaware Credit Union League with the Cooperative Credit Union Association.
The association represents credit unions in portions of New England. The larger organization will allow member credit unions in Delaware to offer a wider range of services and the autonomy the group would offer Delaware members.
“I am pleased to report that the vote has been approved and it is unanimous,” said Delaware Credit Union League Chairman Joel Romaine of Community Powered Federal Credit Union in Bear, Delaware.
The vote of Delaware credit unions concludes a year-long process of the Delaware Credit Union League Board to find a merger partner.
Credit unions have been consolidating in the state, due to regulatory compliance issues, cutbacks at employer groups and the need to offer a wider array of services.
“The overwhelming positive vote by Delaware credit unions gives us great confidence that they are excited and ready to join our cooperative efforts to improve the credit union system. I want to thank and congratulate the board and leadership of the Delaware Credit Union League, who were committed and engaged throughout this process,” said Association President Paul Gentile.
More information on credit unions can be found at http://www.dcul.org/consumer .
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