WASHINGTON—CUNA says it will reduce dues and make other internal changes aimed at strengthening CUNA/league interdependence.
The changes come just a week after the CUNA board voted against two-of-the-three recommendations made to it by its System Structure and Governance Task Force, one of which would have allowed credit unions the option of joining CUNA or a league separately. The report released by the task force showed considerable sentiment within CUNA’s membership for re-examining the value proposition that CUNA and the leagues offer, as CUToday.info reported here.
The announcement comes at the same time CEO Jim Nussle marks his first anniversary in the position.
CUNA said the changes address operating expenses, dues and membership, and follow a number of internal changes that have already 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 in a release. “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 said it has been taking steps to streamline its management and operations. So far in 2015 it has saved $1.4 million in expenses from the budget, the trade association reported.
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,” CUNA stated.
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 said.
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,” the trade association said.
“Credit Union Growth = Success.” CUNA said it 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.”
“I'm impressed about how our system works. However, I'm not satisfied, I know there is more we can do,” said Nussle in the statement. “These actions and others to still come will make the CUNA/league system more accessible, collaborative, innovative, and successful. 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.”