PLANO, Texas–The Cornerstone Credit Union League has become the latest state-level association to enter into an agreement with Plexcity for backoffice services.
The objective is to reduce expenses, increase operational efficiencies, and implement new technology advancements to improve member focus, according to the league.
Plexcity was formed by three state leagues–Maryland/DC, California/Nevada and New Jersey–in 2015 to help leagues reduce costs as their respective membership bases have declined due to decreasing numbers of credit unions.
The Cornerstone league said the partnership is part of Cornerstone's strategy to recommit the nation’s largest regional credit union association to delivering a “value proposition that ensures 100% of all credit unions in the Cornerstone 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,” said Cornerstone president and CEO Caroline Willard. “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 he welcomes the opportunity to expand Plexcity’s service offerings to Cornerstone. “The increased efficiencies to Cornerstone as a result of a relationship with Plexcity will become evident to Cornerstone’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.”
The Cornerstone Credit Union League represents more than 500 credit unions in Arkansas, Oklahoma, and Texas.