On August 1, the two major national credit union trade associations — the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA) — announced plans to merge and create a new organization called America’s Credit Unions. The goal of the merger would be to form a single credit union trade group “to serve credit unions more efficiently and effectively” through “one strong and united voice.”
If the merger is approved, Jim Nussle, CUNA’s President and CEO, would lead the new organization. Earlier this year, Dan Berger, NAFCU’s President and CEO, announced he would be stepping aside to pursue other opportunities by the end of 2023.
The Board of Directors and Executive Committees of both organizations voted unanimously to merge. The merger is subject to approval from the members of CUNA and NAFCU during a 60-day voting period, which began on August 28 and will end on November 1, 2023. If the merger is approved by both organizations’ members, it is expected to close in January 2024 with the intent to be fully operational by early 2025.