CUNA, NAFCU notify members of intent to merge
CUNA President and CEO Jim Nussle and NAFCU President and CEO Dan Berger Tuesday notified members of both organizations that the associations have signed a Letter of Intent (LOI) to merge and form into a single, powerful entity to serve credit unions more efficiently and effectively, without redundancies.
Nussle will serve as the president and CEO of the new association – America’s Credit Unions – should the merger take effect.
“By bringing together these two powerful credit union associations we are doubling down on our commitment to ensure the growth and prosperity of all credit unions across the nation and the 137 million Americans they serve,” said Nussle. “We look forward to uniting CUNA and NAFCU in what will be an exciting new chapter ahead, and we’re thrilled about the opportunities this will create for our members, employees, and business partners.”
The Board of Directors and Executive Committees of both CUNA and NAFCU voted unanimously in May to merge the two organizations. The merger will be subject to approval from the members of CUNA and NAFCU during a 60-day voting period, which is planned to begin later this month. Berger, who made the decision earlier this year to step aside to fulfill family obligations and pursue other opportunities, will remain at the association until year-end, working to bring the two organizations together and to ensure the merger is a success.
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