WASHINGTON (6/14/13) --The 2012 Credit Union National Annual Report is being distributed today to credit unions in a new online format that features live, interactive links throughout to additional background information, more detailed financials, video clips and more.
"Online distribution is not only more efficient, the interactive elements allow us to convey far more to our members than they would typically find in the print
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edition," notes Paul Gentile, CUNA executive vice president of strategic communications and engagement. "We encourage our members to take a few moments to explore all that this year's report has to offer."
The theme of CUNA's 2012 Annual Report is Unite for Good. "Our theme reflects the vision and goals we share with the credit union movement, and our excitement about all we can continue to accomplish by working together," said CUNA President/CEO Bill Cheney.
In the report's "President's Message," Cheney notes that CUNA had a strong year financially and in terms of the advocacy, information and educational services the association provides to its members.
Highlights from the past year include passage of legislation that provided credit unions with regulatory relief from duplicative ATM disclosures; credit unions' defeat of the bank-sought Transaction Account Guarantee (TAG) bill (voted by The Hill newspaper as one of the year's top lobbying wins); improvements in the National Credit Union Administration's troubled debt restructuring rule; strong national media coverage of credit unions and a significant increase in traffic to the CUNA/league consumer web site www.aSmarterChoice.org; extraordinary success in support of credit union-friendly candidates during the 2012 elections; high-visibility "leave behind" projects during the Republican and Democratic National Conventions; high-level attendance of nearly 10,000 at CUNA training programs, webinars and e-schools; and extensive guidance to CUs on compliance matters through online resources like CUNA's popular CompBlog.
Financially, CUNA saw a positive operating margin of more than $2.9 million in 2012 and a change in unrestricted net assets of $1.56 million. "CUNA's strong financial results in 2012 extended a recent trend, continuing to ensure that your trade association has the durability to meet your credit union's needs," said CUNA Treasury Rod Staatz, CEO of SECU in Linthicum, Md.
The CUNA treasurer's message also notes that the association continues to follow a policy in which dues revenues are dedicated to supporting legislative, regulatory and other key advocacy functions.