In AGM, Nussle highlights dynamic year at CUNA

CUNA reports legislative, regulatory advances, and strong financial results.

February 22, 2016

CUNA President/CEO Jim Nussle took the stage during the CUNA Annual General Meeting (AGM) Monday at the 2016 Governmental Affairs Conference and immediately thanked exiting CUNA Chairwoman Susan Streifel for her leadership during “likely one of the most important periods in credit union and CUNA history.”

“CUNA’s purpose is to support, protect, unify, and advance the credit union movement,” Nussle said. “With fierce, 360-degree advocacy, we remove barriers between credit unions and their members, create awareness of the credit union difference, and foster service excellence so credit unions can continue to be America’s best financial partners.”

Nussle highlighted the advocacy successes brought about in 2015 by the efforts of CUNA, state credit union associations, and credit unions. On Capitol Hill they include modernization of privacy notification requirements, allowing privately insured credit unions to join the Federal Home Loan Bank system, and establishing a framework to allow credit unions to better serve rural areas.

“In addition, together we secured the first congressional oversight hearing for [NCUA’s] budget in several years and had significant influence on the final version of NCUA’s risk-based capital rule,” among other regulatory advocacy advances, he said.

Nussle also turned the full spotlight on important state-level legislation where a successful outcome was a “direct result of CUNA/league collaboration and interdependence.”

These achievements included coordinated, targeted strategies to confront banker attacks on the credit union tax status in nine states.

“As a result of your hard work, your hand-to-hand combat,” he said, “no bills were even introduced challenging the credit union not-for-profit tax status.”

Nussle also praised the credit union act modernizations that have occurred in seven states, providing credit unions with increased flexibility and powers to better serve members. CUNA provided a Model Credit Union Act resource that many leagues relied on to shape their own modernization legislation.

CUNA’s leader observed, “We learned a lot from those experiences and need to enhance the credit union charter on the federal level.”

CUNA Treasurer Maurice Smith, president/CEO of Local Government Federal Credit Union, reported strong financial results for CUNA in 2015, including $41.7 million in total assets and $18.7 million in capital.

After the AGM, CUNA announced its new Executive Committee: Chairman Rod Staatz, president/CEO, SECU, Linthicum, Md.; Vice Chairman Patrick Jury, president/CEO, Iowa Credit Union League; Secretary Maurice Smith; Treasurer Brett Martinez, president/CEO, Redwood CU, Santa Rosa, Calif.; and at-large member, Troy Stang, president/CEO, Northwest Credit Union Association.

New and re-elected board members, including those elected by acclamation, include:

  • Mark S. Brantley, board member, Municipal CU, New York;
  • Bradley Green, president/CEO, Listerhill CU, Sheffield, Ala.;
  • Roger Heacock, president/CEO, Black Hills FCU, Rapid City, S.D.;
  • Debie Keesee, CEO of Spokane (Wash.) Media FCU;
  • John C. Sackett, board treasurer, Royal CU, Eau Claire, Wis.;
  • Troy Stang, president/CEO, Northwest Credit Union Association;
  • Scott Sullivan, president/CEO, Nebraska Credit Union League; and
  • Joe Thomas, president/CEO, Fairfax County FCU, Fairfax, Va.