Cornerstone League and Heartland Credit Union Association (HCUA) members have voted in favor of a merger between the organizations. Of the 283 members who voted, 263 Cornerstone and HCUA members have voted in favor of the merger, clearing the path for the consolidation of the two entities.
HCUA members voted Oct. 24-28 while Cornerstone’s members voted in a special membership meeting on Monday morning. The final tallied results: HCUA members voted 121-17; Cornerstone members voted 142-3.
News & Updates
Cornerstone League and Heartland Credit Union Association members have approved a merger between the organizations.
Please join us! This is a gentle reminder to Cornerstone League CEOs who received an invitation on Oct. 3 to attend a special member meeting on Monday, Oct. 31, at 10 a.m. CT.
It’s time for Cornerstone members to vote on the Cornerstone League-Heartland Credit Union Association merger.
Cornerstone League and Heartland Credit Union Association have created a high-level merger plan document that details the benefits of a merger and an outline of the next steps. Member credit unions interested in viewing this document can request one.
March 2022: Official discussions began
June 21, 2022: Letter of Intent was signed
July - Aug. 2022: Due diligence performed
July - Sept. 2022: Town hall meetings
Sept. 2022: Boards of directors approved the merger agreement
Oct. 31, 2022: Member credit unions voted to approve the merger
Jan. 1, 2023: Legal merger and key integrations complete
Serves approximately 175 credit unions in Kansas and Missouri with 23 employees.
Offices in Overland Park and Topeka, Kansas, and in St. Louis and Jefferson City, Missouri.
HCUA’s league service corporation and Foundation will both be part of the consolidation.
Benefits for Cornerstone Members
As a larger regional league, Cornerstone and HCUA can preserve the unique role of financial cooperatives in the marketplace
Two well-capitalized leagues = stronger regional influence
Even more effective advocacy
Continued advocacy presence in each state capital
Larger talent pool = opportunities for innovation and bench depth to support succession planning
Greater efficiency = less reliance on dues dollars, keeping credit unions’ costs as low as possible
Additional products and services
Expanded networking options for members
- 358 small credit unions (less than $90 million)
- Includes 56 non-affiliates
- 134 mid-size credit unions ($90 million to $749 million)
- Includes 23 non-affiliates
- 52 large credit unions ($750 million and more)
- Includes 12 non-affiliates
- 131 small credit unions (less than $90 million)
- Includes 1 associate and 17 non-affiliates
- 41 mid-size credit unions ($90 million to $750 million)
- Includes 5 associates and 1 non-affiliate
- 12 large credit unions ($750 million and more)
- Includes 4 associates and 1 non-affiliate
- 489 small credit unions
- 175 mid-size credit unions
- 64 large credit unions
Combining two highly effective teams of employees will boost both capacity and talent:
- Cornerstone: 92
- HCUA: 23
- Combined: 115