TALLAHASSEE, Fla./WASHINGTON — The League of Credit Unions & Affiliates and the MD|DC Credit Union Association have signed a letter of intent to pursue a potential merger. Saying the move would improve the strengths of both organizations and deliver “greater value, the merger would be effective on Jan. 1, 2027, if approved.
“The decision follows an extensive strategic review by the MD|DC Credit Union Association Board, which examined the association’s long-term priorities and the potential benefits a consolidation could provide,” the organizations said in a statement.
If approved, the combined organization would represent 458 credit unions with $528.4 billion in assets, serving 36.2 million members across Alabama, the District of Columbia, Florida, Georgia, Maryland, and Virginia — “creating a network with expanded services, solutions, and resources.”
The merger plan calls for the combined organization to be led by John Bratsakis, who was named CEO of The League of Credit Unions & Affiliates last month, and will begin his new position on August 3. Bratsakis will continue to serve as CEO of the MD|DC Credit Union Association under a Master Services Agreement with The League, the organizations said.
The League President Samantha A.M. Beeler would continue leading the association with Steve Willis, President of LEVERAGE, leading the Service Corporation, the organizations added.
‘Deep Commitment’
“Both organizations share a deep commitment to helping credit unions succeed,” Richard J. “Rick” Skaggs, chair of The League of Credit Unions & Affiliates board and president and CEO of USF Credit Union, said in a statement. “By bringing together our complementary strengths, we have an opportunity to deliver greater value, expand the support available to members, and build an organization that is even better equipped to serve credit unions for generations to come.”
Added Kristin Shultz, chair of the MD|DC Credit Union Association board, and president and CEO of Spectra Credit Union, in a statement, “This is an opportunity to create something stronger without losing the qualities that make each organization distinctive. Our priority is to preserve the trusted relationships, regional expertise, and local connections our members rely on while opening the door to expanded advocacy, small credit union support, compliance solutions, and business services.”
Exciting Opportunity
“This is an exciting opportunity to unite two strong organizations around a shared commitment to relentless advocacy and exceptional member service,” Bratsakis said in a statement. “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.”
