VACUL to merge with regional credit union group Jan. 1

Members of the Virginia Credit Union League and the League of Southeastern Credit Unions & Affiliates voted Thursday to approve the Virginia league’s consolidation with the regional organization. The merger will be in effect Jan. 1, 2025, the two organizations announced Friday.

“Thanks to the support of the membership, we are embracing a powerful opportunity to strengthen credit union engagement and our collective advocacy impact,” Jeff Bentley, VACUL board chair and president and CEO of Northwest Federal Credit Union, said in a statement. “We are now positioned to provide more customized services, innovative solutions and a stronger voice for our members.”

Announced in September, the consolidated group will represent 386 credit unions and 31.5 million members in Alabama, Florida, Georgia and Virginia.

LSCU President Samantha Beeler will lead the association, and the combined service corporation would be led by Steve Willis, president of Leverage, which encompasses 12 companies and more than 30 partnerships in the credit union industry. Beeler and Willis were named in April as dual executive leaders of LSCU, which represents nearly 300 credit union members with almost $200 billion in assets and 12.4 million members.

“We are elated to bring together the best of both legacy organizations to provide greater value for our members and the communities they serve,” Beeler said. “Together, we will be a powerful voice and resource in supporting and growing credit unions across our expanded region.”