WASHINGTON–Although they are facing layoffs, the employees of America’s Credit Unions who were on hand at the convention center last week for the group’s Governmental Affairs Conference were told to stick to the “talking points” they had been given about the merger between the former CUNA and NAFCU.
CUToday.info has confirmed with multiple sources a report that first appeared on the Capital Account report on Substack that ACU staff were told to stick to the script when interacting with the approximately 6,000 attendees who were there for the meeting.
The trade group will begin announcing layoffs in both Washington and Madison, Wis., this month. America’s CUs currently has more than 300 employees drawn from the ranks of the two trade groups that merged effective Jan. 1. More than a quarter are expected to be let go.
Positives are Stressed
As the Capitol Account report noted, and as CUToday.info has confirmed, the talking points distributed ahead of the meeting stressed the positives of the combination, including how America’s Credit Unions is now a “single, powerful entity” that is now more efficient and effective” and where “advocacy is job number one,” and did not speak to any of the issues related to the job reductions.
Several sources also told CUToday.info America’s Credit Unions is facing a significant budget shortfall in 2024, but it is projecting more positive numbers in 2025 and beyond. Prior to the merger, CUNA had been operating in the red, while NAFCU was in the black.
America's Credit Unions Responds
In a statement to CUToday.info, a spokesperson for America's Credit Unions said, "Aside from our executive leadership team and the appointment of leaders for our legal, DEI and transformation management teams, there have been minimal personnel and no office facility decisions made at this time. While we must responsibly and efficiently align the size of our workforce to effectively serve our members and remain good stewards of their dues, the association is committed to treating all employees fairly and with respect throughout this transformation process."
Lots of Uncertainty
As CUToday.info has also previously reported, and as the Substack account also added, employees of America’s Credit Unions have been told they must re-interview for their positions in order to receive severance.
CUToday.info spoke with several members of the staff at America’s Credit Unions, who asked not to be identified. Indicative of the uncertainty, one person asked CUToday.info if it had any additional information on who might lose their jobs.
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