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CUNA announces dues reduction, other changes

The Honorable Jim Nussle
 

(Credit Union Insight) – After listening to and learning from credit unions over the past year, CUNA president/CEO Jim Nussle announced changes to the organization’s operating expenses, dues, membership and moves to strengthen CUNA/League Interdependence. The announcement comes after a number of internal changes have been implemented to align with CUNA’s strategic plan.

“The future needs of credit unions demand that we raise the bar even higher so CUNA and the Leagues are best-positioned to advance credit union interests in advocacy,” said Nussle. “The CUNA Board of Directors approved a series of recommendations I made and CUNA will be taking action to implement them as soon as possible: Change is on the way.”

Announced changes include:

Expense reduction: CUNA has been taking steps to streamline its management and operations. So far in 2015 CUNA saved $1.4 million in expenses from the budget.

Dues reduction: CUNA is reducing member dues for 2016. Total dues income for CUNA will be less than 2015. The reduction recognizes the need to continue to make CUNA leaner and more agile and to calculate dues in a way that that celebrates and rewards credit union success and asset growth.

Expanded membership: CUNA proposed creating two new non-voting membership classes. One for professionals and volunteers and one for system partners and vendors. The goal is to encourage greater individual advocacy at all levels of the CUNA/League system.

CUNA/League interdependence: This is the heart of CUNA’s value proposition. It is an unmatched credit union advocacy force that delivers results. CUNA and the Leagues have committed to a new level of cooperation in our service to credit unions.

Credit Union Growth = Success. CUNA is working to create as favorable an operating environment as possible for credit unions to thrive in the future – where every American has the opportunity to choose a credit union as their best financial partner. The three pillars of CUNA’s value proposition: removing barriers, creating awareness and service excellence will continue to guide CUNA’s strategy.

Nussle expanded on the proposals and future changes to come.

“I’m impressed about how our system works. However, I’m not satisfied, I know there is more we can do. These actions and others to still come will make the CUNA/League system more accessible, collaborative, innovative, and successful,” said Nussle. “The question all of us at CUNA – beginning with me – are asking is this: If our goal is for credit unions to be Americans’ best financial partner, then how can we at CUNA and the Leagues be credit unions best Association partner? I understand credit unions’ demand for value and I’m focused on delivering results. The changes outlined above – well-planned and well-executed – will continue to transform CUNA into a leaner, strategically focused and efficient organization. More accountability, more value, more results. And one in which I know credit unions will be proud to belong.”

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