MEMBERS Development Company, a CUSO, announced it has added five more credit unions as partners during the second quarter of 2017, raising the number of new owners to seven this year.
The five new entries comprise:
- CommunityAmerica Credit Union ($2.4 billion in assets; based in Lenexa, Kan.)
- First Commonwealth Federal Credit Union ($672.3 million; Bethlehem, Pa.)
- New England Federal Credit Union ($1.2 billion; Williston, Vt.)
- Texas Dow Employees Credit Union ($3 billion; Lake Jackson, Texas)
- Y-12 Federal Credit Union ($1.1 billion; Oak Ridge, Tenn.)
All told, MDC has added thirteen new owners over the past 15 months.
Jeff Kline, MEMBERS Development Co.’s chief executive officer, said in a statement that the CUSO “intentionally follows a managed-growth strategy” to ensure all owners have direct influence and involvement in the company’s R&D decisions, as well as the execution of various projects.
“MDC is unique in the credit union community because we are a fairly small organization, but one that has a ‘big voice,’ given the strength and size ($118 billion in total) of the credit unions and partner organizations we represent,” he added.
“Owners often cite MDC’s focus on collaborative research, collaborative development, and highly interactive semi-annual owner meetings as key drivers of our success.”
Mark Ziegler, the president and CEO of Y-12 FCU, said his institution is “excited” to join MDC.
“We recognize the importance of research and development to stay relevant in our industry, and see the value of strength in numbers,” Ziegler stated. “We look forward to the opportunity to network and collaborate with other like-minded credit union leaders.”
Similarly, Sue Leonard, SVP and CFO at New England FCU, said “we look forward to networking and collaborating on innovative solutions.”