The $1.2 billion Credit Union of Colorado has become the latestto leave CUNA,the credit union's CEO confirmed today.

Terry Leis made it clear that the cooperative's dissatisfactionhad not been with CUNA, but with the local Mountain West Credit Union Association, which represents creditunions in Arizona, Colorado and Wyoming.

“We should be clear that our problem was not with CUNA,” Leissaid. “It had to do with the local association and the valueproposition there.”

The association's 2013 media kit also reported that 91% ofArizona credit unions belong to the association, as well as 74% ofColorado credit unions and 70% of credit unions in Wyoming.

Leis said CUNA CEO Jim Nussle had reached out in a genuine andsincere way to get the credit union to remain, but in the end Leissaid the value proposition was not there.

Leis reported that, between the two organizations, the creditunion paid almost $100,000 in dues.

“There is no question we are disappointed that CreditUnion of Colorado has chosen not to remain members of theAssociation,” the Association said in a statement about thedeparture. “They are a great credit union and when we fail tocommunicate the value of Association membership, we lose theirvoice and work in our cooperative efforts. For example, lastmonth, a damaging interchange bill was introduced at the ColoradoState Capitol.”

Mountain West also cited an instance where the association hadperfomed a vital service for its member credit unions.

“Our Association put together a strong grassroots oppositionengaging member credit unions. Because of this strongcooperative effort, the bill was overwhelminglydefeated. Affiliation isn't just about the money to supportthe Association, it's about credit unions coming together for thegood of the movement. Credit Union of Colorado's help andleadership in these types of efforts is what will be missed. Inaddition to our work at the legislature, the Association offerstraining programs, support in compliance, advocacy with regulators,and our foundation to assist credit unions in reaching theirgoals.”

“We will still continue to fight for and serve all credit unionsthroughout Colorado, Arizona, and Wyoming at all levels ofgovernment. And, we will continue to provide quality education,training and resources for our Association members,” theassociation concluded.