Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Cornerstone and Resources Poised to Assist CUs Interested in Pursuing a Merger
Wednesday, April 2, 2014 6:50 AM

While the Cornerstone Credit Union League and Credit Union Resources do not promote nor encourage credit union mergers, they do understand that it is a choice for some credit unions. And credit unions seeking assistance with this process often turn to their league for help; therefore, Cornerstone and Resources have developed a program to provide assistance for credit unions seeking partnerships through which they intend to pursue a merger.

Cornerstone and Resources will provide at no cost to credit unions registration and introductory services detailed below:

Step I
Credit Unions seeking information about merger rules and procedures are encouraged to consult with their League Representative.

Step II
Credit unions interested in prospecting potential merger partners (acquiree or acquirer) may register their interest at www.cornerstoneleague.coop/merger_assistance_program.html.  

Step III
Upon request, potential credit union acquirees will be provided copies of the “Confidential Merger Prospect Fact Sheet” of credit unions who have registered their interest as a merger “acquirer” and who fit the acquiree’s merger criteria.

Step IV
When a potential acquiree credit union selects a potential acquirer for preliminary discussion, Resources will schedule an introductory meeting and facilitate execution of a confidentiality agreement between the two interested parties.

Step V
Resources will disengage from the process following introduction of the parties. Resources’ engagement beyond the introduction process, if requested by either party, will be on a “for fee” basis defined under the terms of a contract detailing services, fees, and any legal issues relevant to the assignment.

Please note that any services requested outside of the above-mentioned procedures will be contracted on a “for fee” basis through Resources. For more information, please contact your League Representative.  Additionally, you may contact Mike Delker, Cornerstone’s senior vice president of Credit Union Relations, at (800) 442-5762, ext. 6826, or Dean Borland, Resources’ assistant vice president, at (800) 442-5762, ext. 6627.