Credit Union National Association (CUNA) and National Association of Federally-Insured Credit Unions (NAFCU) officials have notified members of the proposed intent to merge into a single entity.
CUNA President/CEO Jim Nussle and NAFCU) President/CEO Dan Berger recently detailed the signing of a Letter of Intent (LOI) regarding the proposed action.
“By bringing together these two powerful credit union associations we are doubling down on our commitment to ensure the growth and prosperity of all credit unions across the nation and the 137 million Americans they serve,” Nussle, who is slated to serve as the president/CEO of the new association – America’s Credit Unions – should the merger take effect, said. “We look forward to uniting CUNA and NAFCU in what will be an exciting new chapter ahead, and we’re thrilled about the opportunities this will create for our members, employees and business partners.”
Berger made the decision earlier this year to step aside to fulfill family obligations and pursue other opportunities, but will remain at the association until year-end.
“Both CUNA and NAFCU have worked together over the years to achieve victories for the credit union industry, and now the sky is the limit,” Berger said. “I believe this is the best path forward for the industry. A new, singular association under Jim’s fervent leadership will be able to harness the combined talent of both organizations to provide outstanding value to our members and ensure every household in America has the best credit union to serve them.”
The merger will be subject to approval from the members of CUNA and NAFCU during a 60-day voting period planned to begin later this month.