Doing what’s best for the credit union industry

NAFCU and CUNA made an exciting announcement this week – the intent to merge and form America’s Credit Unions. This decision was not made lightly. It was a collaborative process, with input from leaders and stakeholders of both organizations over the course of many months. Throughout the discussions, our North Star was: “What is best for credit unions?”

We strongly believe that transforming these two great organizations into one is what’s best for the credit union industry. Under the leadership of Jim Nussle, this organization will be laser focused on serving you. Jim is a passionate credit union champion and is dedicated to creating an impactful organization that will deliver results.

While our announcement was met overwhelmingly with positive reactions, we recognize that there are many questions yet to be answered. And some within the industry may not be fully supportive of the merger. Over the next several weeks, we will be meeting with as many members as we can to listen to your concerns and priorities, and learn how this new organization can best serve you.

Let me provide some insights into why America’s Credit Unions is best for our industry’s future.

As the industry evolves to meet the needs of its 137 million members, having one strong, united voice will position credit unions for tremendous growth and prosperity. We want to serve you in the most efficient and effective way possible, being responsible stewards of your dues dollars and putting them toward the products and services that will benefit you most – just as you do for your members.

Because at the core of the credit union industry is the spirit of cooperation. Of people helping people. That’s what this transformation to America’s Credit Unions is about: Coming together to fortify the industry and protect its mission. To lift all with one voice. Our fight is against burdensome regulation and bad actors, and in defense of consumers who need safe, secure, and reliable financial services the most. Not amongst ourselves.

There will be differences among members of America’s Credit Unions. Each credit union is unique. Your institutions serve different communities with different needs. You have different portfolios and hold varying levels of assets. But the common thread through all your institutions is doing what’s best for your members. And you should have the ability to make those decisions about what services to offer, how to innovate, and where to grow.

America’s Credit Unions is being formed to ensure you have that ability. It will transform credit union representation. Building upon the storied histories and accomplishments of CUNA and NAFCU, this organization will be the best of the best. We will take lessons learned from decades of service to credit unions to streamline and enhance our advocacy, education, and compliance services.

I am confident in America’s Credit Unions’ ability to unite our industry and secure a bright future for all credit unions.

Things will change – but for the best.