After the proposed merger between the Credit Union National Association (CUNA) and National Association of Federally Insured Credit Unions (NAFCU) was announced, the California and Nevada Credit Union Leagues want to ensure members have the information they need as this historic effort kicks off.
CUNA and NAFCU have maintained the goal of America’s Credit Unions — the newly proposed national trade association — to ensure the growth and prosperity of all credit unions across the United States, as well as their 137 million individual member-owners.
The voting period for member credit unions of both CUNA and NAFCU will begin at a to-be-determined date later this month and last for 60 days. If the proposed merger is approved, America’s Credit Unions would be fully operational by early 2025.
The Leagues know that credit union board of directors and senior leadership teams may have questions about the intent to merge these two national trade associations, including maximizing their membership value, product and service offerings — and more importantly, the legislative and regulatory advocacy efforts within the halls of Congress and regulatory agencies.
Please consider the following materials as you discuss this proposal and your credit union’s vote in the coming days and weeks:
If approved, America’s Credit Unions would be led by Jim Nussle, president and CEO of CUNA, with NAFCU President and CEO Dan Berger transitioning out by the end of this year. Jim and Dan — as well as the boards of directors and executive committees of both organizations — did not come to this resolution overnight or in a matter of days.
Rather, the planning and foresight leading to this moment are founded on strategic conversations by leadership and key stakeholders representing both organizations that took place over a number of months and are ongoing as our movement continues finding its stability and power in a unified effort.
“We applaud the leadership at CUNA and NAFCU for their vision of America’s Credit Unions to ensure we speak with one powerful voice in Washington, D.C. on behalf of all credit unions,” said Diana Dykstra, president and CEO of the Leagues. “We look forward to supporting America’s Credit Unions and aligning our priorities in California and Nevada with the voice of thousands across the nation.”
Going forward, CUNA and NAFCU will provide regular updates on the progress of America’s Credit Unions.