Members of the Credit Union National Association and the National Association of Federally-Insured Credit Unions have overwhelmingly voted to merge. The newly formed entity will be known as America’s Credit Unions.
The merger signals a historic shift in credit union advocacy at both the federal and state levels. Credit Union National Association (CUNA) was founded in 1934 and represents federally and state-chartered credit unions, while the National Association of Federally-Insured Credit Unions (NAFCU), founded in 1967, has historically advocated only for federally insured credit unions.
CUNA members showed strong support for the merger with a 94% affirmative vote, while 86% of NAFCU members cast ballots in favor.
The formal establishment of America’s Credit Unions is slated for Jan. 1, 2024.
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