Cooperative Credit Union Association - Comprehensive Analysis Report

Summary

The Cooperative Credit Union Association (CCUA) is a regional trade organization serving nearly 200-member credit unions across Delaware, Massachusetts, New Hampshire, and Rhode Island. It acts as the voice for its member credit unions, representing them before Congress, state legislatures, regulatory bodies, and the public. Empowering its members to provide financial services to consumers, CCUA's member credit unions hold substantial assets and serve a large consumer base.

1. Strategic Focus & Objectives

Core Objectives

CCUA empowers credit unions to provide consumers with outstanding financial services.

The association advocates for issues important to its member credit unions.

CCUA aims to be the primary force behind the growth and prosperity of credit unions, ensuring they remain pillars of stability and community.

Specialization Areas

Advocacy: Representing credit unions before legislative and regulatory bodies.

Compliance: Providing resources and support to help credit unions navigate complex regulatory requirements.

Education: Offering training and professional development opportunities for credit union staff.

Target Markets

CCUA's primary market is its member credit unions across Delaware, Massachusetts, New Hampshire, and Rhode Island.

The association empowers credit unions to better serve their members, who represent a diverse range of consumers.

2. Financial Overview

Funding History

CCUA member credit unions hold combined assets in excess of $73 billion and serve a collective membership base of more than 4.7 million consumers.

CCUA credit unions provided more than $500 million in direct financial benefits to their members and had a combined financial impact on their states surpassing $5 billion.

3. Product Pipeline

Key Products/Services

Advocacy: Representing members' interests before Congress, state legislatures, and regulatory bodies.

Compliance Support: Providing resources and guidance to help credit unions comply with regulations.

Education and Training: Offering workshops, conferences, and online training programs for credit union staff.

4. Technology & Innovation

Technology Stack

Not specified.

5. Leadership & Management

Executive Team

Chair: Frederick Reinhardt, President/CEO, Greenwood Credit Union.

Vice Chair: Anabela P. Grenier, President/CEO, Pioneer Valley Credit Union.

2nd Vice Chair: Maurice W. Dawkins, President/CEO, American Spirit Federal Credit Union.

Treasurer: A. Scott MacKnight, President/CEO, Triangle Credit Union.

Secretary: David Araujo, President/CEO, Service Credit Union.

Board Members: Robert M. Cashman (President/CEO, Metro Credit Union), Rui F. Domingos (President/CEO, Massachusetts Institute of Technology Federal Credit Union), Roland Draper (President/CEO, Somerville Municipal Federal Credit Union), Blanche Jackson (President/CEO, Stepping Stones Community Federal Credit Union), Stephen J. White (President/CEO, Westerly Community Credit Union).

President/CEO: Ron McLean.

Executive Vice President, Chief Operating Officer: Melissa Pomeroy.

Chief Advocacy Officer: Adrian Velazquez.

Vice President of Education & Operations: Aimee Morin.

Vice President of Member Engagement: Janelle Mullen.

Recent Leadership Changes

In October 2023, CCUA announced Frederick Reinhardt of Greenwood Credit Union as the new Board Chair. Ron Draper, President/CEO of Somerville Municipal Federal Credit Union, was thanked for his leadership as Board Chair.

6. Competitive Analysis

Major Competitors

Iowa Credit Union League (ICUL): Represents the interests of Iowa's credit unions and their members.

Vertice AI: Marketing and AI solutions for credit unions and community banks.

TruMark Financial Credit Union.

7. Market Analysis

Market Overview

CCUA serves nearly 200-member credit unions across Delaware, Massachusetts, New Hampshire, and Rhode Island.

CCUA member credit unions hold combined assets in excess of $73 billion and serve a collective membership base of more than 4.7 million consumers.

8. Strategic Partnerships

NetGiver: Provides CCUA's member credit unions access to NetGiver, custom branded as "We CU Care", enabling members to make no-fee donations to nonprofits.

Synergent: Collaboration to promote and provide a discounted Marketing Suite of Services and Statements to member credit unions.

Total Expert: Partnership as part of the CCUA's CU Connect program to empower credit unions with resources to deepen member relationships through personalized outreach.

9. Operational Insights

CCUA connects member credit unions with partners delivering value.

CCUA enriches cooperation, embraces innovation, and delivers tailored support, empowering credit unions to thrive.

CCUA fully vets each business partner and offering, making it more cost-effective and simple for everyone to work together.

10. Future Outlook

Strategic Roadmap

CCUA strives to empower credit unions and provide them with solutions to best serve their members.

The association focuses on offering industry resources such as compliance support, marketing assistance, and access to vetted products and service providers.