Early this morning, DakCU received word that members of CUNA and NAFCU have voted overwhelmingly in favor of merging the two organizations and creating a single national trade association, America’s Credit Unions.
DakCU President/CEO Jeff Olson was pleased with the news. “This merger is in the best interest of the entire credit union industry, and for our Dakota credit unions,” he stated. “It means our members will have a stronger, more unified credit union movement that will deliver enhanced strategic alignment, greater efficiencies, and modernized member engagement for our ever-evolving financial service industry.”
He continues, “Ongoing credit union system evolution is necessary for ever-stronger advocacy for credit unions and their members at the national and state levels, and that remains our highest priority.”
Of those that voted, 94 percent of CUNA members and 86 percent of NAFCU members were in favor of the merger. “I want to thank you for being open and engaged throughout the merger process,” Jim Nussle wrote in the formal announcement. “We’ve learned a lot from you about what the industry needs in terms of advocacy, compliance assistance, education and training opportunities, resources, and more. Our team will spend the coming weeks and first part of the year working to establish an organizational culture, structure, and strategy that is purposeful and relevant to you as we move into the future.”
America’s Credit Unions is set to legally launch Jan. 1, 2024, and is expected to be fully operational by early 2025. Regular updates will be provided and additional detailed information will be shared soon. Meanwhile, you can continue to access merger-related resource on CUNA's website or NAFCU's website.
Thank you for your support of America’s Credit Unions!
The Memo is DakCU's newsletter that keeps
Want the Memo delivered straight to your inbox?