CUNA CEO Takes the Stage at 2019 GAC
Credit Union National Association (CUNA) President/CEO Jim Nussle took to the main stage at the Governmental Affairs Conference (GAC) Monday morning to address the more than 5,000 present credit union advocates.
“The key to the credit union difference is our cooperative superpowers,” Nussle told a record-breaking number of attendees during his speech, which was streamed live on Facebook.
In 2018, credit unions delivered roughly $16 billion in direct and indirect financial benefits to consumers. Credit unions reported growth statistics as they:
- Provided $16 billion in total financial benefits to members and non-members
- Added nearly 5 million members
- Experienced growth 5x higher than U.S. population growth
Nussle then highlighted the efforts from credit unions during the federal government shutdown earlier this year.
“When 800 thousand innocent federal workers are used as nothing but hostages in a 35-day senseless government shutdown, our credit union people are there,” Nussle said.
CUNA surveyed over 500 credit unions, and over 60,000 federal employees turned to their credit union for support. Credit unions provided more than $46 million in low- or no-interest loans while over 11,000 members were afforded loan extensions and other modifications, often with associated fees waived.
“Our survey also revealed that more than 3,000 joined a credit union to help them get through the shutdown's financial challenges,” Nussle added. “Time and time through history, but especially in 2018, when people needed real help that only can come from other real people, our credit union people are there.”
Nussle outlined three industry challenges that lie ahead for credit unions and how CUNA will lead the charge to implement solutions across the movement.
“We face three big challenges that are attacking our industry,” said the president/CEO. First, the model attack — bank hypocrisy and over-regulation threatens our very existence. Second, the market attack — the marketplace is changing, and credit unions need to get on board to keep our relevance. And third, the ‘heart’ attack – if we don’t cooperate with each other we will never overcome our collective challenges.”
While on stage, Nussle also mentioned the partnership between CUNA and the Michigan Credit Union League regarding their national awareness campaign, Open Your Eyes to a Credit Union®. Slated to begin in April, and running $2.2 million in media buys for a 12-month period, Michigan will magnify the national campaign in tandem with other states around the country.
The goals of the MCUL ad campaign will be to debunk credit union myths by promoting them as convenient, high-value, service-oriented, full-service financial institutions that offer great mobile banking features — all under the theme of “Open Your Eyes to a Credit Union®”, tying into recent national efforts.
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