By Ray Birch
TUSTIN, Calif.—Bill Cheney understands how difficult Jim Nussle’s decision was to step down as president and CEO of America’s Credit Unions, having faced a similar crossroads himself 11 years ago.
As a former leader of the Credit Union National Association, which merged with the National Association Of Federally Insured Credit Unions in 2024 to form ACU, Cheney reflected on the challenges and opportunities such transitions bring. In a conversation with CUToday.info, he shared his own experience of leaving the trade association to take the helm at the now $33-billion SchoolsFirst FCU.
“My decision was a little different than Jim's retiring, and I am happy for him and I wish him well,” Cheney told CUToday.info. “I was making a move to another position. It's hard to believe that was 11 years ago. But it was.”
Cheney emphasized his was a different situation, given that making the move to SchoolsFirst FCU is not pursuing retirement.
“Not to say this is necessarily the end of Jim's career. I don't know what his plans are. But it sounds like he wants to spend more time with his family, and I understand that. He has dedicated over a decade to the trade association and has achieved numerous successes that have greatly benefited the movement. I can say this from personal experience,” said Cheney, who headed CUNA for over four years.
“I had been at the California and Nevada Leagues for four years before I came to CUNA. So, eight years, essentially, in the CUNA league system,” Cheney noted. “But, no matter the reason, it's never easy to say you are leaving because you don't want to let people down.”
When Cheney took the job at CUNA, he had no intention of leaving, he said.
“However, this opportunity came up at SchoolsFirst FCU, and it was one of the largest credit unions in the country, and an opportunity after eight years to go back and work directly with members,” he explained. “That was a huge part of my decision. But, again, it’s different than retirement. Jim is moving on to a new chapter of his life, and I respect that.”
Advance The Movement
Nussle has done an excellent job at CUNA and then ACU, Cheney said.
“Jim has certainly helped to advance the movement over the past ten-plus years, probably 11 by the time America’s Credit Unions finds his replacement,” Cheney said. “He helped them navigate the pandemic. He continued to work with and strengthen the partnership with the league partners. And he oversaw the merger of two major credit union trade associations. That is a big deal.”
What does ACU need in a replacement for Nussle?
“It's a great question, but that's really a question for the ACU board,” Cheney said. “They have a strong board and I trust their judgment. Dan Mica was my predecessor. He had the political background. He did a great job. He was there for 15 years. I had the credit union background and I also had quite a bit of experience in advocacy, certainly from my time at the league and even in my personal involvement prior to that. Jim has great political experience, not just in Congress but also with the White House. So, that's really something the board is going to have to decide—what makes sense going forward.”
Political advocacy is a huge part of the job, reminded Cheney.
“The exact right candidate is a combination of what they're looking for in terms of skills and experience and what they find in terms of interest,” said Cheney. “And, as there has been before, I am certain they’ll be a tremendous amount of interest in the job. It's a big job. It's an important job. And it's going to attract a lot of qualified candidates.”
Cheney said heading CUNA and then ACU is demanding but extremely rewarding.
“I appreciate all Jim’s done to advance the movement while he's been there—including what he's going to continue to do,” said Cheney. “Jim is not gone yet, and the movement is in the middle of this tough tax fight, and he's going to lead us through it.”