A historic moment for our movement

It was exciting to announce this week that CUNA and NAFCU members approved the merger of both organizations into America’s Credit Unions.

These last few months weren’t about winning votes, but learning directly from you what our movement needs when it comes to advocacy, compliance assistance, educational opportunities, and more.

Every comment, question, and concern we heard over the past few months will help make America’s Credit Unions—and our movement—better, and I thank you for that.

But the work is just beginning.

America’s Credit Unions is set to legally launch Jan. 1, 2024, and it is our goal to be fully operational by early 2025.

Our leaders and transformation teams will continue their work to establish the culture, structure, and strategy that is purposeful and relevant to you. ?? Again, thank you for your support and engagement throughout the process and for the trust you’ve placed in America’s Credit Unions to lead this movement.

We’ve updated our page with additional information and a video message from NAFCU President/CEO Dan Berger and me on the next steps.

CHECK OUT THE LATEST ON THE MERGER HERE

AACUL elects executive board members

Congratulations to the members elected to the American Association of Credit Union Leagues (AACUL) board. MD|DC Credit Union Association’s John Bratsakis, CrossState Credit Union Association’s Patrick Conway, Michigan Credit Union League’s Patty Corkery, Carolinas Credit Union League’s Dan Schline, and Cornerstone League’s Caroline Willard will serve terms that officially begin Dec. 7.

Read about the board here

Global credit union movement surpasses 400M members

The World Council of Credit Unions’ latest statistical report shows credit union membership surpassed 400 million last year. Brazil (25%), the Philippines (19%), and Ireland (17%) saw the largest growth in membership in 2022. The report also found global credit union membership—and global credit union assets—more than doubled from 2013 to 2022, with membership in Asia growing more than 250% over that time.

Read the full report here

CrossState Foundation, Pa. corrections dept. host Financial Reality Fair

Shout out to the CrossState Credit Union Foundation and 43 volunteers from 10 New Jersey and Pennsylvania credit unions that worked with the Pennsylvania Department of Corrections to host a Financial Reality Fair for individuals re-entering society. Participants learned about strong financial foundation in a friendly, fun way, showing them how to build a budget, savings, and reduce debt.

Read about the event here

Celebrating Native American Heritage Month

November marks Native American Heritage Month, and Credit Union Magazine covers how credit unions serving Native American communities build trust while meeting their unique needs. Coteau Valley Federal Credit Union and First Community Credit Union work to educate and create relationships to help members clear debts, access checking and savings accounts, build credit, and more.

Read the article here

360-degree advocacy

• We urged members of Congress not to buy into merchants’ misleading arguments in favor of the big box interchange bill.
• We called for Congress to support a bill to exempt loans to veteran-owned businesses from the credit union member business lending cap.
• GoWest Credit Union Association advocacy leaders and I thanked Rep. Earl Blumenauer, D-Ore., for his support of credit unions after Blumenauer announced he will not seek re-election.
• More than 300 people attended NCUA’s Diversity, Equity, and Inclusion summit this week in Washington, D.C.