COLUMBUS, Ohio–The Ohio CU League said it plans to invest in Plexcity, the league-owned CUSO that offers savings via consolidated back office functions.
Plexcity was launched in 2014 by the California and Nevada Credit Union Leagues, the New Jersey Credit Union League and the Maryland-District of Columbia Credit Union Association. Earlier this year the Hawaii Credit Union League purchased a an ownership share. NASCUS, which is led by former California league executive Lucy Ito, also uses Plexcity for certain functions.
The Ohio league is projecting immediate cost reductions of approximately 20% as it uses Plexcity for HR, accounting and technology services. During the California/Nevada leagues’ REACH Conference last week, CEO Diana Dykstra said Plexcity could eventually deliver savings of up to 50% to the state associations that use it.
According to Plexcity, leagues make an initial investment of $30,000 to be a part of Plexcity, with costs varying annually depending on the services used.
OCUL Director of Accounting, Shawn Kessinger, and Technology Director, Wade Goheen, will join Plexcity on Jan. 1 2016. Both will remain in Ohio.