In a rare Saturday announcement March 19, CUNA reported more than 90% of its members voted in favor of historic bylaw changes that include eliminating the dual membership requirement in 2017.
Additional bylaw changes will allow CUNA's board to develop a dues formula that would favor neither small nor large credit unions and permit the board to adjust its number of seats from the current maximum of 24 members to a minimum of 12 members.
More than 2,200 credit unions – about 43% of the national membership – voted, according to CUNA.
"Clearly, there was strong support for these changes, and I believe that this voting process has demonstrated our commitment to meeting the needs of our membership," Rod Staatz, CUNA board chair and president/CEO of the $2.9 billion SECU in Linthicum, Md., said in a prepared statement. "What's more, this new membership model will help us build an even stronger, more effective and more united credit union system."
Though credit unions will be allowed to join their league, CUNA, or both trade organizations, Staatz said CUNA maintains its position that the best choice is dual membership.
"We wholeheartedly believe that CUNA/league interdependence is the best way forward for the credit union movement, as do many of the leagues that have already approved optionality for their members," he said. "Interdependence has helped us serve the best interests of credit unions for many years and will continue to do so for many years to come. It stands for a united system that is the best advocate for credit unions at both the state and federal levels and in any arena in which our support and participation is needed."
CUNA President/CEO Jim Nussle said coordination with the state leagues for the 2017 dues cycle has already begun.
"This is a tremendous victory for credit unions. I am grateful to our members for this strong vote of confidence in CUNA and embracing a modern, national trade association model that will help us build an even stronger, more effective and more united credit union system," Nussle said in a prepared statement.
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