The Cornerstone Credit Union League has entered into an agreement with Plexcity for back-office services, the league announced Wednesday.
Based in Ontario, Calif., Plexcity is a shared service company that provides information technology, accounting and finance, and human resources solutions to trade associations across the country.
Cornerstone -- which serves CUs in Texas, Arkansas and Oklahoma -- explained in a press release that the league expects to benefit from this new relationship by “reducing expenses, increasing operational efficiencies and implementing new technology advancements to improve member focus.”
The partnership is part of Cornerstone's strategy to “recommit” the organization to delivering a “value proposition” that ensures 100 percent of all credit unions in the league’s service region are “engaged with the association in a meaningful way.”
“We want to continue to ensure we are responsible to our membership and its investment in Cornerstone, Credit Union Resources and the Cornerstone Credit Union Foundation,” Cornerstone President and CEO Caroline Willard said in a statement. “This step will allow Cornerstone to focus on being more progressive in our service offerings and delivery to our membership. We intend to be differentiated, bold, and smart.”
Tony Kitt, president and CEO of Plexcity, said the increased efficiencies Cornerstone expects to see as a result of the relationship between the two groups will become evident to the league’s membership over time.
“Plexcity’s experience in serving credit union associations and in the areas of information technology, accounting, and human resources allows the association to focus on creating member value while at the same time lowing overall costs,” Kitt added.
According to its website, Plexcity was formed in 2015 by John Bratsakis, president and CEO of the Maryland|District of Columbia Credit Union Association; Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, and Greg Michlig, former president and CEO of the New Jersey Credit Union League. These three the three original board members selected Kitt as its president and CEO.