CUNA President/CEO Jim Nussle addressed global credit union peers Thursday during World Council of Credit Unions’ Australian Credit Union Study Trip. His keynote address at a CEO/Director meeting focused on CUNA’s efforts to advocate, unify, advance and promote the credit union industry.
“Credit unions in the U.S. have seen many positive trends in 2018 – from membership growth to increased financial benefits for both members and non-members,” Nussle said. “The credit union difference is our cooperative superpower. It’s our best asset, our competitive advantage, and it extends across the globe.”
Last year credit unions provided more than $16 billion in benefits to American consumers, members and non-members alike. The industry also added nearly five million members and grew five times faster than the U.S. population.
Nussle also provided an overview of the advocacy pillars that CUNA plans to tackle in the 116th Congress, namely enhancing information security, preserving the tax status, expanding opportunities for consumers and small businesses and continuing to reduce regulatory burden.
World Council of Credit Unions’ study trip brings a delegation of U.S. credit union industry executives to Australia for a deep-dive examination of how financial cooperatives there are working to overcome regulatory, taxation and branding challenges to grow membership and lead the way forward in developing innovative digital solutions.
Australia’s Customer Owned Banking Association (COBA) is hosting the delegation. Along with guiding their American guests through Australia’s complex financial system, COBA is also hosting study visits at credit unions in Sydney and Melbourne.