As discussed here, 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. Today, CUNA announced that the organizations’ members voted overwhelmingly (94% of CUNA members and 86% of NAFCU members) in favor of the merger. America’s Credit Unions will be legally formed on January 1, 2024.
Jim Nussle, CUNA’s President and CEO, will 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. In the merger announcement, Dan Berger summed up the merger as, “[t]his successful vote is a monumental moment for the credit union industry. With Jim at the helm, supported by the Board of Directors’ expertise and leadership, I am confident America’s Credit Unions will prove to be a successful, innovative, and service-first association that will elevate the industry well into the future.”