CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » Nussle: Embrace cooperation
Leadership

Nussle: Embrace cooperation

“We do it better if we do it together,” he tells conference attendees.

August 12, 2019
Ron Jooss
No Comments
Embrace cooperation, Nussle says

Credit unions need to work together for the good of the movement, embracing collaboration as our “superpower,” says CUNA President/CEO Jim Nussle.

“We do it better if we do it together,” he says.

Nussle, who addressed the 2019 African-American Credit Union Coalition Conference in Charlotte, N.C., says we need this superpower to address three challenges facing credit unions:

1. Attacks on the credit union model, including bank attacks and over-regulation. CUNA defends these attacks through its 360-degree advocacy approach.

“We need your help at all levels and in every community to tell our story and make sure our business model lives forever,” he says.

2. Market pressures. Banks outspend credit unions $43 to $1 on advertising. Plus, credit unions face threats from fintech companies and even nonfinancial companies such as Starbucks and Amazon which offer products that compete with traditional credit union services.

CUNA’s strategy to combat these threats is to raise awareness and consideration of credit unions using the Open Your Eyes to a Credit Union campaign to elevate the credit union brand, amplify current marketing strategies, and use targeted methods to reach consumers.

Credit unions have raised $40 million for the campaign, which is live in nine states.

3. Competition among credit unions. Nussle calls for cooperation rather than competition.

“You don’t see meetings like this in any other industry, where people come together to solve problems and help each other,” he says. “You see it in credit unions because of our cooperative superpower. We can’t let that atrophy.”

He encourages credit unions to seek out the “blue ocean” of for-profit financial institution customers.

“If we do it all together, we have so much to offer,” he says. “Let’s activate our superpowers.”

Nussle also reiterated the idea of adding diversity and inclusion as an eighth cooperative principle.

Former CUNA Board Chairman Maurice Smith, president/CEO of $2 billion asset Local Government Federal Credit Union in Raleigh, N.C., proposed the idea initially.

While credit union do much of this naturally, Nussle says, “we should put it first and forthright in the principles we stand for. We’re stronger when we put forth proactive effort to engage everyone in governance, management, and representation.”

KEYWORDS AACUC advocacy collaboration Credit Union Awareness

Post a comment to this article

Report Abusive Comment

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • Credit unions foster financial well-being in members, survey shows

  • House passes CUNA-backed fair hiring bill

  • Final flood Q&As reflect CUNA-sought clarifications

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us