Two leading organizations representing credit unions are merging to form a new association called America’s Credit Unions.
America’s Credit Unions, which will officially launch on Jan. 1, 2024, is the merger of the Credit Union National Association (CUNA) and the National Association of Federally-Insured Credit Unions (NAFCU).
Members of both organizations approved the merger, with 94 percent of CUNA members voting in favor and 86 percent of NAFCU mergers saying aye.
“I’d like to thank our credit union members who have been engaged throughout this merger process – asking tough questions, holding us accountable, and helping us plan for the future. I am incredibly humbled to lead this new organization and fight for a stronger credit union industry. Your needs will remain our priority as we embark on this transformation over the next several months,” Jim Nussle, president and CEO of CUNA, said.
Nussle will serve as president and CEO of the new combined entity, America’s Credit Unions, when in launches in January.
“This successful vote is a monumental moment for the credit union industry. With Jim at the helm, supported by the Board of Directors’ expertise and leadership, I am confident America’s Credit Unions will prove to be a successful, innovative, and service-first association that will elevate the industry well into the future,” Dan Berger, president and CEO of NAFCU, said.
Berger will continue to serve in his role until the end of the year.
This merger is seen as an opportunity to transform credit union advocacy at the federal and state levels. The new association will bring together the best of both organizations to offer exceptional services to credit unions so they can best serve families and small businesses across America. The organization is committed to a culture that emphasizes accountability, transparency, and responsiveness.
Credit unions will receive regular updates from the association on the transformation process.