NEW: CUNA moves forward following membership approval of bylaw modernization
WASHINGTON (3/19/16, UPDATED 9 a.m. ET)--The membership of the Credit Union National Association (CUNA) has overwhelmingly voted to modernize the association’s bylaws. This historic change creates a new, open membership model for CUNA and empowers the board of directors to maintain a fair dues formula and board structure 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.
“This is a tremendous victory for credit unions. I am grateful to our members for this strong vote of confidence in CUNA and for embracing a modern, national trade association model that will help us build an even stronger, more effective, and more united credit union system,” said CUNA President/CEO Jim Nussle.
Nussle added: “This new membership model allows us to enhance and build upon our already strong interdependence with the Leagues. Interdependence has helped us serve the best interests of credit unions for many years."
Coordination with the state leagues for the 2017 dues cycle has already begun. Under the association’s new bylaws, credit unions will have the option of belonging to CUNA and their state League or CUNA alone. Several state Leagues already have implemented similar changes.
“I believe that this voting process has demonstrated our commitment to meeting the needs of our membership,” said Rod Staatz, CUNA board chairman and president/CEO SECU, Linthicum, Md. “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.”
CUNA now turns to its bold agenda for the future, which includes:
- Celebrating the credit union difference in all CUNA does.
- Rejecting the ‘one-size-fits-all’ regulatory scheme adopted out of convenience by policy makers and regulators that rob credit unions of our very nature.
- Pointing out that credit unions aren’t banks, so policy makers and regulators must stop treating us like banks.
- Asserting credit union relevance in the market place by leading the kind of financial services disruption that Americans are searching for today, putting consumers first.