Credit Union National Association

The Credit Union National Association, commonly known as CUNA (pronounced "Cue-Nuh"), is a national trade association for both state- and federally chartered credit unions located in the United States. CUNA provides member credit unions with trade association services, such as lobbying, regulatory advocacy, professional development, and professional services management. The organization operates out of its headquarters in Washington, D.C., and an operations center in Madison, Wisconsin. CUNA's president and chief executive officer Jim Nussle has led the organization since September 2014.[2]

Credit Union National Association
CUNA-Logo.svg
AbbreviationCUNA
Founded1970; 52 years ago (1970)[1]
Type501(c)(6)[1]
23-7065623[1]
PurposeProfessional association
HeadquartersWashington, D.C., U.S.
Location
Coordinates38°52′35″N 77°00′22″W / 38.876451°N 77.006228°W / 38.876451; -77.006228Coordinates: 38°52′35″N 77°00′22″W / 38.876451°N 77.006228°W / 38.876451; -77.006228
Jim Nussle
SubsidiariesCUNA Strategic Services Inc[1]
Websitewww.cuna.org

Services and supportEdit

CUNA is supported through dues paid by credit unions through their local league dues and fees generated from services provided. CUNA has previously operated a for-profit "CUNA Services Corp." However, many of the pass-through services, such as credit card processing and individual retirement account (IRA) administration, have been sold to other vendors.

CUNA also houses eight CUNA Councils - national organizations for credit union professionals. Run by and for credit union professionals, Councils target their networking, information and programs to key areas of credit union management.

Prior to 2016, a credit union was required to be a member of its local state credit union league in order to qualify for benefits and services from CUNA, but that is no longer a requirement.

Employees and locationsEdit

CUNA employs 295 people in its offices in Washington, D.C., and Madison, Wisconsin.[1] The Madison campus is also the headquarters of CUNA Mutual Group, the World Council of Credit Unions, and the National Credit Union Foundation.

AdvocacyEdit

On December 4, 2013, Rose Bartolomucci testified before the United States House Financial Services Subcommittee on Financial Institutions and Consumer Credit on behalf of CUNA in favor of the bill To amend the Federal Home Loan Bank Act to authorize privately insured credit unions to become members of a Federal home loan bank (H.R. 3584; 113th Congress).[3] The bill H.R. 3584 is a bill that would amend the Federal Home Loan Bank Act to treat certain privately insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.[4] Bartolomucci emphasized that the bill does not guarantee membership to individual credit unions, but only the right to apply for membership. Bartolomucci argued that being able to join the Federal Home Loan Bank System would allow credit unions to better serve their members by providing them with additional liquidity.[3] Bartolomucci also made historical arguments about why credit unions should be eligible.

CUNA supported the Credit Union Share Insurance Fund Parity Act (H.R. 3468; 113th Congress), a bill that would expand federal deposit insurance to include Interest on Lawyer Trust Accounts (IOLTAs) and similar escrow accounts housed within credit unions.[5][6] The CUNA said that "this legislation is necessary because the National Credit Union Administration (NCUA) has interpreted that the Federal Credit Union Act does not permit it to extend such coverage."[6] CUNA President Bill Cheney said that the bill "would reduce credit unions regulatory burden and help them better serve their members."[7]

See alsoEdit

ReferencesEdit

  1. ^ a b c d e "Form 990: Return of Organization Exempt from Income Tax". Credit Union National Association. Internal Revenue Service. December 31, 2018.
  2. ^ "Jim Nussle Biography". Credit Union National Association. September 22, 2014. Archived from the original on April 19, 2015. Retrieved May 5, 2015.
  3. ^ a b Bartolomucci, Rose (December 4, 2013). "Testimony of Rose Bartolomucci on behalf of the Credit Union National Association" (PDF). House Financial Services Committee. Archived from the original (PDF) on May 5, 2014. Retrieved May 5, 2014.
  4. ^ "H.R. 3584 - Summary". United States Congress. Retrieved May 4, 2014.
  5. ^ "CBO - H.R. 3468". Congressional Budget Office. January 10, 2014. Retrieved May 4, 2014.
  6. ^ a b "CUNA's letter in support of three House bill's tomorrowf". Credit Union National Association. May 5, 2014. Retrieved May 6, 2014.
  7. ^ Ballasy, Nicholas (May 5, 2014). "Reg Reliefs Bills Slated for House Votes". Credit Union Times. Retrieved May 6, 2014.

External linksEdit