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Credit union groups reveal first glimpse of new national association.
“America’s Credit Unions”—the merged CUNA and NAFCU organization will be headquartered in Washington, D.C., but state credit union leagues will continue to be a “valued partner,” the trade associations said late Tuesday.
In questions and answers posted on their websites, the trade groups said that hybrid options will also allow work to be done in other parts of the country. The page also features a video of NAFCU President/CEO Dan Berger and CUNA President/CEO Jim Nussle explaining the decision to merge.
In a question about employees, the groups said, “While we can’t guarantee specific positions at this time, we will prioritize fairness and respect for all employees throughout the merger process.”
The merger was announced Tuesday and is subject to a vote of the members of both groups. The aim is for “America’s Credit Unions” to be fully operational in early 2025.
How Will the New Association Be Run?
CUNA and NAFCU said the new trade group will be run by 15 directors and one CEO.
Nussle will serve as CEO of the merged organization. Berger has announced his intention to leave NAFCU and will not be an executive of the new trade group.
The board will include:
–Nine transition directors, each of whom is a current member of the CUNA board of directors. Seven of those people will be a current employee or voting director of a natural credit union that is a voting member of CUNA and two people will be designated by the credit union leagues.
–Six members of the NAFCU board of directors.
–The CEO of the group, who will serve as an Ex Officio member of the board.
Industry Reaction
The two groups said they have been collaborating for more than a year and that the merger represented a “natural evolution.”
Jeff Olson, chairman of the American Association of Credit Union Leagues, was among the people who praised the decision.
“We believe the merger is best for credit unions and their members as a superior model for a national trade association, providing a stronger, unified and impactful advocacy voice,” said Olson, who also is president/CEO of the Dakota Credit Union Association.
“Ongoing credit union system evolution is necessary and a rich source of opportunity for system growth, strength and resilience,” he continued. “Ever stronger advocacy for credit unions and their members at the national and state levels is a highest-priority outcome, and working collaboratively with the state associations across the country, this merger provides a tremendous opportunity to advance the credit union movement.”
Industry News
