Cornerstone / Heartland Merger

• By combining the shared strengths of two well-capitalized leagues, Cornerstone and HCUA can preserve the unique role of financial cooperatives in the marketplace, and expand its influence as a larger regional league.
• Regional oversight would amplify federal coordination on local threats from ABA, ICBA, and state-specific banking trades.
• Building upon the strengths of existing league service corporations (LSC) means leagues become less dependent on dues revenue, keeping members’ costs down.
• When the LSC is a larger aggregator, credit union buying power is increased.
• Every dollar saved through scale equals a dollar of additional advocacy support.
• Credit unions will enjoy the option of expanded networking with a bigger group of peers or continuing with regional roundtable events.
• Additionally, diverse talent will improve the quality and sustainability of the value delivered.

Following the departure of HCUA’s CEO earlier this year, its board of directors had to decide whether to search for a new CEO or find a partner to help optimize its long-term value proposition.

As credit unions have been adapting to changes with competition and consumer behavior, their numbers have declined. Leagues must evolve as well to ensure they can meet credit unions’ changing needs. Scale is a necessary part of their adaptation.

A key benefit of bringing two strong leagues together is that reductions in key resources – such as personnel – are not necessary to accomplish scale. Because HCUA staff will remain on board, resources can be re-balanced to ensure every credit union receives the same level of – if not actually superior – service. 

Yes, Cornerstone Resources and the Cornerstone Foundation will merge with their HCUA counterparts, providing additional services and fundraising opportunities for Cornerstone members.

Cornerstone has proposed a temporary increase to the Cornerstone League board of directors, from 11 to 17, which is permissible in the bylaws, to provide representation to credit unions in Kansas and Missouri. These new seats will “expire” at the 2026 Annual Meeting, at which time Kansas and Missouri credit union representatives will have the opportunity to run to become Directors in one of the two existing classes: asset-based and location-based.

HCUA is in great shape financially and will bring $15 million in additional capital to the combined organization, which means Cornerstone will be well-equipped to invest in the future. Millions in additional dues dollars will be more than sufficient to ensure current programs continue to run smoothly.

The membership vote on the merger is tentatively scheduled for late October. We will communicate the date and other details to members when they are confirmed.