By Ray Birch
WASHINGTON—The credit union community reacted to the announcement of Jim Nussle’s retirement from America’s Credit Unions, with industry leaders praising his achievements over his 11-year career at CUNA and then ACU.
However, beyond the praise, some within the credit union sector are questioning the timing of the ACU leader’s announcement, as both credit unions and the trade association find themselves in the midst of a critical tax battle.
As CUToday.info reported, ACU said Nussle did not specify an exact date for his retirement but rather expressed his desire to provide the ACU board the “full flexibility” to conduct a search for a CEO over the next several months on a timeline of their choosing, and to ensure his ongoing efforts to champion the organization’s advocacy agenda.
Robby Glore, CEO of Combined Employees CU in Warner Robbins, Ga., was surprised by the announcement.
“I’m trying to look at it from both sides of the fence,” Glore said. “On one hand, announcing your retirement without a specified date does sound a little different. Is there a reason for the abrupt announcement—pressure from others, health? When I retire, I know I will have a date and my replacement fully trained by then.
“On the other hand, he’s been there (in Washington) for 40 years, and I can see that it is admirable to want to retire and spend time with the family,” said Glore. “I just got a second email from him and it reiterates that he is going to be spending more time with his family, but in the meantime will continue to support the ongoing issues facing the credit union movement now. So, maybe it’s just time.”
Becky Reed, former CEO of Lone Star CU in Dalles and now COO of crypto platform Bank Social, said Nussle retiring as President and CEO of America’s Credit Unions marks the end of a “significant” era, and that ACU has work to do.
“He’s been a key figure in advocating for the credit union movement, especially in a time of heightened regulatory and competitive pressure. The real question now is whether his successor will push the envelope or play it safe—because the status quo isn’t going to cut it in a rapidly evolving financial landscape,” Reed said.
Jim Nussle
Former NCUA Chairman Michael Fryzel said Nussle has done an excellent job in representing the interests of credit unions and their members in our nation’s capital.
“His efforts have helped fight off those who believe credit unions should be taxed. In addition, he played a major role in bringing NAFCU and CUNA together to become ACU, enabling them to speak with one loud and strong voice in the halls of Congress,” stated Fryzel. “His successor faces a huge challenge as the call for taxation is perhaps the strongest seen yet.”
Tax Fight And Retirement Announcement Timing
The pressure on the credit union tax exemption is arguably the most intense the movement has faced, as CUToday.info has extensively reported. This has led some within the credit union community—who spoke on condition of anonymity—to question the timing of Nussle’s announcement. Their concerns stem from the need for stability within the movement at a time when Congress is seeking ways to fund the budget bill, with the credit union tax exemption already identified in a House GOP document as a potential revenue source.
But most CU leaders simply shared their support for Nussle and his decision, noting it will be difficult for ACU to replace him. Nussle was named president and CEO of the Credit Union National Association in September 2014, and then headed the organization when it merged with the National Association Of Federally Insured Credit Unions at the start of 2024.
“Congratulations to Jim on his retirement announcement,” said Maggie Fournier-Pope, CEO of Mountain Valley Federal Credit Unionin Peru, N.Y. “I am so proud of the leadership he has given ACU throughout his term as CEO. I also appreciate his forward thinking in regard to allowing the ACU board to find the best possible candidate to take his place. His shoes will be hard to fill.
Jim has been such a positive inspiration to the credit union movement,” continued Pope. “As a small credit union leader, I appreciate his support and commitment to the people, helping, people philosophy and will always remember how his voice rang clearest in support of all credit unions in our communities. ‘
In Washington, Thomas Domingue, CEO of Labor Credit Union, noted that Nussle is “such a charismatic person, who has the unique ability to walk into any room and instantly build connections with people. The energy, enthusiasm, and passion that he leads with is genuine, and rare. It will be difficult for anyone to fill his shoes in the role he has played in advocating for credit unions for so many years.”
Strong Understanding Of Industry
Michael G. Goad,president and CEO of Dow CU in Midland, Mich., emphasized Nussle has done a great job leading ACU over the last decade.
“He has shown a strong understanding of the credit union industry and the difference that we make for our members and our communities and has used his understanding of government processes and relationships in order to effectively advocate on our behalf,” Goad said. “After leading the recent merger with NAFCU and rebranding to America’s Credit Unions, he will be leaving a vibrant and effective organization that is well-positioned to serve the industry and our over 140 million credit union members nationwide.”
Robert Miller, president and COO at EastRise Credit Union in Williston, Vt., thanked Nussle for his efforts.
“Jim’s career as CEO of America’s Credit Unions has been nothing short of remarkable,” Miller said. “I’ve always been struck by his passionate leadership, which has reflected so well on the industry and advanced the movement significantly. His commitment and skill for advocacy and service have truly left us all better for his efforts.”
Paul Mercer, president of theOhio Credit Union League, said the entire movement understands Nussle’s commitment to credit unions.
“We won’t need more time to grasp the tremendous contribution to the movement’s success made by Jim,” Mercer said. “It’s abundantly clear already. Among his many lasting gifts to us are leading with character, passion for our cooperative distinction, and an impressively future-proof America’s Credit Unions. He’ll be missed as he steps forward into well-earned retirement, leaving ACU exceptionally well-positioned for this succession moment.”
Jackie Buchanan, president and CEO of Genisys Credit Union said Nussle’s decision marks the end of an era.
“An era of dedicated service to the credit union movement,” Buchanan said. “His tireless advocacy and leadership have made a lasting impact on the industry that always puts people before profits. Wishing Jim a well-deserved retirement filled with joy and relaxation—his contributions will surely be felt for years to come!”
Jeff Carpenter, CEO of WEOKIE FCU in Oklahoma City, Okla., congratulated Nussle on his impending retirement.
“I had the privilege of working under three CUNA CEOs, including Jim, and I appreciated his transformative leadership when he first arrived at CUNA and his recent ability to leverage his experience and insights to position credit unions well in this most recent tax battle,” Carpenter said. “His skillful management of the landmark consolidation to form America’s Credit Unions, uniting under one powerful credit union voice, has been nothing short of remarkable. His decision to provide an ‘open-ended’ transition time for the board to secure his replacement speaks to his character and commitment to the future success of America’s Credit Unions, credit unions—both individually and collectively, and the ACU team.”
Judy De Lucca, president and CEO of New Orleans Firemen's FCU, called Nussle a tireless advocate for the credit union movement.
“He led with vision, strength, and an unwavering commitment to the mission of improving financial well-being for all,” she said. “Under his leadership, credit unions across the United States have benefited from stronger advocacy, increased visibility, and a unified voice that has helped shape policy and expand the reach of member-owned financial institutions. His work has not only strengthened the foundation of our movement but has also inspired countless individuals and organizations to continue advancing the cooperative principles we hold dear.
“Jim’s dedication to public service, both in his prior roles and throughout his tenure with America’s Credit Unions, is a testament to his integrity and his belief in the power of people helping people,” De Lucca continued. “Though his leadership will be greatly missed, his legacy will endure in the continued growth and resilience of credit unions across the nation. We wish Jim all the best in his next chapter and thank him for the extraordinary contributions he has made to the credit union movement.”