Dear Credit Union Leaders,
The vote is in, and the membership of the Credit Union National Association (CUNA) has overwhelmingly approved the modernization of our bylaws. This historic change will provide new and modern association governance, including creating a new, open membership model for the association, while also granting the board a greater ability to maintain a fair dues formula and board structure. These changes will allow us to become more nimble and responsive as the credit union system evolves. With more than 2,200 credit unions participating, or over 43% of the membership, more than 90% voted in favor.
Clearly, there was strong support for these changes, and I believe that this voting process has demonstrated our commitment to meeting the needs of our membership. What's more, this new membership model will help us build an even stronger, more effective, and more united credit union system. I want to thank the CUNA Board for their efforts in supporting this important modernization.
As a result of the vote, CUNA's bylaws now allow for credit unions to become members of CUNA and their respective leagues, or of CUNA alone. Coordination with the state leagues for the 2017 dues cycle is already underway.
While we support credit union choice, we maintain our position that the best choice is dual membership. We wholeheartedly believe that CUNA/League interdependence is the best way forward for the credit union movement, as do many of the leagues that have already approved optionality for their members.
Interdependence has helped us serve the best interests of credit unions for many years, and will continue to do so for many years to come. It stands for a united system that is the best advocate for credit unions at both the state and federal levels, and in any arena in which our support and participation is needed.
Our stronger, united credit union system will accelerate CUNA's bold agenda, which includes:
• Celebrating the credit union difference in all we do.
• Rejecting the 'one-size-fits-all' regulatory schemes adopted out of convenience by policymakers and regulators that rob us of our very nature.
• Pointing out that credit unions aren't banks so policymakers and regulators will stop treating us like banks.
• Asserting credit union relevance in the marketplace by leading the kind of financial services disruption that Americans are searching for today, putting consumers first.
When we work together, when we fight for credit union interests using one voice, we better support, protect, unify and advance the credit union mission. The approved changes to our bylaws will only strengthen that.
CUNA Board Chair