As CUNA Board Chairman, Dennis Pierce intends to conduct “a full and comprehensive look at the organizational structure and governance of CUNA” during his one-year term, he announced at Tuesday morning’s General Session after being sworn in.
“Credit unions are very different today, and I think we’re going to be very different in the future. Our trade association needs to be responsive to that,” said Pierce, CEO at CommunityAmerica Credit Union in Kansas City, Mo.
“We’ve had great success, and we have a wonderful system. But we also need to make sure that system remains viable going forward.”
Pierce pledged to provide credit unions ample opportunity to voice their opinions about CUNA’s course.
“Please take advantage of that and participate, because we’ll only be as good as you, the members, push us to be,” he said.
Pierce, who replaces Pat Wesenberg, president/CEO of Central City Credit Union in Marshfield, Wis., also serves on the board of NACUSO and as Vice Chairman of CUNA Strategic Services.
“I’ll work hard and I’ll do my best,” Pierce said. “Together, we’ll make CUNA even better than it is today.”
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.