By William J. Mellin, President & CEO

On Tuesday, Aug. 1, the Credit Union National Association (CUNA) and the National Association of Federally Insured Credit Unions (NAFCU), announced their intent to merge and form a new national association called America’s Credit Unions. This new organization will provide a strong, united voice in Washington and position America’s credit unions for the opportunities and challenges that lie ahead.

While merger discussions have gone on for some time, I applaud the leadership of both organizations for bringing this to the forefront and allowing credit unions to vote and decide on the merger.

Both organizations are effective advocates, both have a strong political presence, and both have strong volunteer and professional leadership. Combined, they will have a high level of credit union membership and benefit from a strong and united League structure that delivers both advocacy and important services to credit unions.

Competition is often good, but studies have shown that when it comes to trade associations, that’s not the case. Even the bankers realized this some years ago, when they merged their two national trades.

Over the coming months, we’ll be receiving more information on the proposed merger and, I’m sure, hearing different points of view. I encourage you to stay advised and, when the time comes, cast your vote on what you believe is the best course of action. You already know mine.

The joint press release from both organizations can be accessed here.