Nussle & Berger’s Merger Message: ‘Let’s Get to Work’
The leaders of CUNA and NAFCU state three priorities as America’s Credit Unions comes into existence.
Thursday morning’s voting results by members to approve the merger of CUNA and NAFCU was not much of a surprise, but it was historic in what it means for the credit union industry at large.
According to the results of those who cast their ballots, 94% of CUNA members and 86% of NAFCU members voted in favor of the merger. The votes were tallied and finalized by each organization’s independent ballot provider.
After the results were announced, CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger released a video, which was uploaded to YouTube Wednesday evening, to talk about what work comes next to create the newly-merged organization America’s Credit Unions.
After months traveling the country together to meet with credit union leaders and conference attendees about the benefits of merging, the two leaders, sitting in front of an image of the U.S. Capitol Building and United States flags, expressed their appreciation and excitement for the voting results.
Nussle said, “This is a historic moment for the credit union industry. It provides us the opportunity to build a brand new association and position the industry for growth and prosperity well into the future.”
Berger added, “Throughout the merger process, we prioritized transparency and accountability. We looked to you, our members, to inform decisions for the new organization.”
Berger went on to present three priorities the two heard during their months-long travels that the new organization will focus on. Those priorities included:
- Advocacy must remain job one.
- Don’t lose sight of member service and meaningful connections.
- Industry events, educational opportunities and compliance resources are key.
Nussle, who will lead America’s Credit Unions, stated while the new organization “will be legally formed on Jan. 1, 2024, we’ll use the next year to be intentional and strategic with our decisions. Based on the feedback you provided, we know we have a lot of work ahead. This won’t be an easy merger, but it’s worth it. It’s worth the time. It’s worth the investment to ensure that every aspect of this new organization best serves you. And that’s culture, personnel, advocacy, products and services – just to name a few. It’s all going to take some time. I ask that you have patience, but also confidence in the process that we’ve established. Because that everything that we do will be in the betterment of you, credit unions and the industry.”
Berger, who plans on stepping down from NAFCU and pursue other opportunities at the end of the year, said, “The transition Board of Directors for America’s Credit Unions will empower Jim and the entire team he puts together with the vision for the new association and put them on the path to success. With strong leadership and industry expertise and feedback from you, we have full confidence that America’s Credit Unions will equip credit unions with the tools and resources needed to thrive.”
Nussle ended the video by stating, “America’s Credit Unions will fight for a stronger credit union industry and for the policies that allow you to remain the very best financial services option for America’s families and Main Street small businesses. So, thank you. Thank you for entrusting us with this extraordinary opportunity. Now, let’s get to work.”