Credit union trade groups move to merge.
The proposed combination would create a six-state organization representing 458 credit unions with $528.4 billion in assets and 36.2 million members.
Two major regional credit union trade groups are moving toward a merger that would create one of the industry’s larger advocacy and service organizations, reflecting a broader push among credit union associations to consolidate their operations and resources.
The League of Credit Unions & Affiliates and the MD|DC Credit Union Association said that their boards had signed a letter of intent to pursue a combination. If approved by their boards and members, the merger would take effect Jan. 1, 2027.
The combined organization would represent 458 credit unions across Alabama, the District of Columbia, Florida, Georgia, Maryland and Virginia. Those institutions would collectively have $528.4 billion in assets and 36.2 million members.
The proposed deal comes as credit union trade groups have increasingly looked to consolidation as a way to expand their reach and services. The League itself was created through the 2024 merger of the Southeastern Credit Unions & Affiliates and the Virginia Credit Union League, with the organization announcing its new name in January 2025.
Other regional combinations have surfaced in recent years. The Cornerstone League and Heartland Credit Union Association announced plans to merge in 2022, after the Mountain West Credit Union Association and Northwest Credit Union Association combined. At the national level, the Credit Union National Association and National Association of Federally-Insured Credit Unions merged in 2023 to form America’s Credit Unions.
The latest proposal grew out of a strategic review by the MD|DC Credit Union Association’s board, which examined the association’s long-term priorities and the potential benefits of consolidation, the organizations said.
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“This is an opportunity to create something stronger without losing the qualities that make each organization distinctive,” Kristin Shultz, chair of the MD|DC Credit Union Association Board and president and chief executive of Spectra Credit Union, said in a statement. She said the association’s priorities included preserving trusted relationships and regional expertise while expanding advocacy, support for smaller credit unions, compliance services and business offerings.
The League currently represents 368 credit unions in Alabama, Florida, Georgia and Virginia. Those institutions have $477.6 billion in assets and 33.8 million members, according to the organization.
The MD|DC association represents credit unions in Maryland and the Washington, D.C., metropolitan area, whose members serve more than 2.4 million consumers.
The proposed combined organization would be led by John Bratsakis, who was named chief executive of The League last month and begins that role Aug. 3. Bratsakis is currently president and chief executive of the MD|DC Credit Union Association and would continue in that position under a master services agreement with The League.
Samantha A.M. Beeler, the association’s president, would continue to lead the organization, while Steve Willis, president of LEVERAGE, would lead the service corporation.
“This is an exciting opportunity to unite two strong organizations around a shared commitment to relentless advocacy and exceptional member service,” Bratsakis said.
Richard J. “Rick” Skaggs, chair of The League’s board and president and chief executive of USF Credit Union, said the combination could expand the resources available to credit unions while strengthening the organizations’ ability to serve their members.
The two groups will conduct due diligence in the coming months. The proposed merger must receive final approval from both boards and the memberships of the organizations before it can take effect.
For the credit unions involved, the combination would bring together advocacy, education, compliance support, business services and other resources under a broader regional organization. It would also extend the League’s existing footprint northward into Maryland and the Washington area.
The deal is the latest indication that consolidation in the credit union movement is not limited to the financial institutions themselves. As credit unions have grown larger and more geographically dispersed, the organizations representing them have also begun reconsidering how much scale is needed to compete for attention, resources and influence.
“That strategic focus makes this a strong fit and positions us to collectively deliver even greater value, resources, and support to the credit unions and communities we serve.”
– John Bratsakis
President & CEO
the MD|DC Credit Union Association
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
