CUNA and NAFCU Planning to Merge Next Year

CUNA and NAFCU said Tuesday they intend to merge and form a new organization, America’s Credit Unions, by January 2024.

CUNA President/CEO Jim Nussle will lead the new trade group.

NAFCU President/CEO Dan Berger, who made the decision earlier this year to step aside to fulfill family obligations and pursue other opportunities, will remain at the association until the end of the year.

The board of directors and executive committees of CUNA and NAFCU voted unanimously in May to merge the two organizations. The consolidation must be approved by CUNA and NAFCU members during a 60-day voting period, which is expected to begin later this month.

Should members approve of the merger, America’s Credit Unions will legally be established no earlier than January 2024, with the intent to be fully operational by early 2025.

The new trade group will initially be governed by a 16-person board of directors. This transition board will include current board members from both CUNA and NAFCU, including members of each board’s executive committee.

“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 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 said CUNA and NAFCU have worked together over the years to achieve victories for the industry.

“And now the sky is the limit. I believe this is the best path forward for the industry,” he said. “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.”

Lisa Ginter, CUNA’s board chair and president/CEO of the $4.6 billion CommunityAmerica Credit Union in Lenexa, Kan., said the merger will “provide the opportunity to innovate and strengthen the credit union industry as we respond to the banking challenges of the future.”

Gary Grinnell, NAFCU’s board chair and president/CEO of the $2.3 billion Corning Federal Credit Union in Corning, N.Y., said there is an utmost respect for both associations and their employees, and that he looks forward to working together to integrate the two organizations to best support the credit union industry.

“We appreciate Dan’s relentless focus on growing NAFCU and serving its members with aggressive advocacy and ‘extreme member service,’ and wish him much luck in his future endeavors,” he said.