Accountability and transparency

Earlier this week, CUNA and NAFCU announced the proposed Transition Board for America’s Credit Unions. If members of both associations approve the merger, the Transition Board will guide the process and ensure a successful transformation into one strong, united voice for the credit union industry. Brian Schools, President and CEO of Chartway Federal Credit Union and current Vice Chair for NAFCU, will lead the charge as the association’s first chair. Lisa Ginter, chair of CUNA’s Board of Directors, will serve as Vice Chair of the Transition Board.

I wrote about CUNA and NAFCU’s intent to merge last week. In that post, I reiterated that this merger is what’s best for credit unions and the industry’s future. Should the merger be approved, the Transition Board will work to bring together the best of both organizations and make decisions that benefit you the most.

The board will be comprised of current CUNA and NAFCU board leaders – from individual credit unions and the Leagues. They know what it takes to serve their members and what the industry needs from America’s Credit Unions.

For credit unions, the Board of Directors ensures the credit union operates safely and holds the institution accountable to members. The Transition Board will aim to ensure that America’s Credit Unions is accountable to you – and in turn, the 137 million members you serve.

We know there are still a lot of questions, but you can rest assured that we will always put credit unions first – and the Transition Board will hold America’s Credit Unions to that.

Accountability is important, and so is transparency. Throughout the merger process – leading up to the member vote, during it and beyond – we will provide updates, seek your input, and relay details as soon as we finalize them. This process won’t happen overnight.

Transparency and accountability go hand-in-hand. Transparency will hold us accountable for what we do. When there's visibility into processes and operations, it becomes easier to ensure the right things are being done – and for the right reasons.

While we begin to confirm details of the transformation, we will be as transparent as possible and accountable to you – the members we serve.