LOS ANGELES—With an eye on cutting expenses, three state CU associations are getting closer to launching a combined back office.
The California/Nevada CU Leagues, the New Jersey CU League and the Maryland District of Columbia have partnered on a CUSO to be called Plexcity that is to launch by January of 2015. It will combine numerous functions each of the associations operates independently, including HR and IT.
“We should see at least a 33% reduction in operating expenses in three years,” said California/Nevada league CEO Diana Dykstra during the league’s REACH annual meeting here. “The more leagues that get into it, the more we will save.”
On hand for the league’s annual meeting were Greg Michlig, CEO of the New Jersey league, and John Bratsakis, CEO of the Maryland/DC league. The new CUSO will be chartered in Nevada and operate from offices in California.
Dykstra stressed expense cutting at the league, and noted that for the fifth straight year there has been no dues increase. “It’s important that we find ways to reduce our dues,” said Dykstra. “We are driving new revenue sources in some of our businesses.”