The New York State Credit Union League is turning over much of its audit services division to a regional CPA firm to better serve the diverse needs of the league's members.
"Their needs were outpacing our capabilities," Edward Kovalefsky, senior vice president of the Latham-based Credit Union League, told The Business Review. "We looked at the resources we would have to invest in staff and infrastructure to really meet the needs of our members and decided it would be better to have regional firms take over service of our clients."
The move means that Wojeski & Co. CPAs PC, based in East Greenbush, will take on 150 new clients and four new auditors from the league's headquarters this fall. The firm will work with small and mid-sized credit unions from Canada to Long Island to Utica. Two other firms in central and western New York will serve member institutions in those areas. Larger credit unions usually use the Big Four firms.
No money will be exchanged in the deal. Clients will transfer to the three firms on Sept. 30. Clients are not obligated to stay with Wojeski & Co.
The firm, which has about 1,500 clients, employs 25 people and works with technology firms, small private companies and government agencies.
David Wojeski, managing director of Wojeski & Co., said the deal gives the firm a chance to grow in a market few smaller CPA firms handle. The firm's audit work is expected to increase by about 20 percent. “It is definitely a specialty niche," he said.