Nussle Makes Pledges to Members as Merger Voting Begins

Members of NAFCU and CUNA began voting Monday to decide the fate of the proposed merger of the two groups into America’s Credit Unions. Once the voting period opened, CUNA President/CEO Jim Nussle sent a message to members as they cast their ballots and made a series of pledges about what the new organization would become, if approved.

Nussle, who is expected to lead the merged group, said, “America’s Credit Unions will serve you.”

In the message, Nussle wrote, “We will be strategic. We will be decisive. We will be cost and value conscious. We will listen and adapt to your needs. Most importantly, we will be responsive.”

Nussle also announced “an upcoming series of virtual forums for credit unions to share their thoughts,” presumably with officials from NAFCU and CUNA. Details of the forums were not available and, according to a statement, would be announced soon.

“I truly believe that the creation of America’s Credit Unions is in the best interests of your institutions and members. I am grateful for the Board Members of both CUNA and NAFCU who had the courage to pursue this immense opportunity and lead our industry into the future,” Nussle wrote.

On Friday, officials with both organizations published updated dues information for members of CUNA and NAFCU.

“Existing credit union members will receive dues invoices from their respective association(s) later this year for 2024, which will be calculated using the same methodology in effect as of Dec. 31, 2023,” the statement read.

Future dues information published online included the following:

• 2025 dues: Equal to the greater of the dues that would have been paid using CUNA’s current methodology or NAFCU’s current methodology, as of Dec. 31, 2023.
• 2026 dues: Calculated using 2024 invoice methodology as indicated for existing dual members.
• 2027 dues: Calculated using 2024 invoice methodology as indicated for existing dual members.
• 2028 dues: Calculated by the new America’s Credit Unions dues structure, as will be determined by the board of directors.

Also on Friday, NAFCU President/CEO Dan Berger published a blog post saying, “The proposed membership dues structure was built to help navigate the transition period and put America’s Credit Unions in the strongest position for launch – should you approve the merger.”

If approved, officials with CUNA and NAFCU expect the merger to be legally official by January 2024.

Berger plans to step aside to pursue other opportunities at the end of 2023.