VIRGINIA BEACH (1/30/13)--The $1.9 billion Chartway FCU based here announced that it is maintaining its membership in the Credit Union National Association and that for the sake of "clarity, consistency and on-point messaging," the credit union system would be better served to be represented by one trade association.
"This is particularly important as it relates to the significant legislative and regulatory opportunities and challenges currently facing the industry," Chartway said in a statement.
Ron Burniske, president/CEO of the 194,885-member Chartway, said that Chartway evaluated both CUNA and the National Association of Federal Credit Unions during the credit union's recent strategic planning process. Based on its value proposition, Chartway decided to align with CUNA.
Burniske acknowledged that both CUNA and NAFCU demonstrate "exceptional work," but "only one trade association is necessary to effectively represent the credit union industry."
Chartway hopes that its relationship with a single trade association will allow more focus to effectively be placed on items that are relative to credit unions of all sizes. Its intention is to create a "proactive, concise single voice that will best represent the industry."
Further, Chartway hopes its decision will "inspire conversation among other credit unions on unifying trade associations to benefit credit unions--which would ultimately be best for credit unions and their members."
CUNA President/CEO Bill Cheney, responding to the Chartway announcement, said, "We appreciate the confidence that Chartway has in CUNA and the leagues, and we are proud to be their advocates."
Cheney added, "Trade association membership is an important decision for any credit union. We believe that the CUNA/League system has the vision, resources and commitment to best represent their interests on both the national and state level."
Chartway has branch locations in Arkansas, Florida, Georgia, New Jersey, North Carolina, Ohio, Rhode Island, Texas, Utah and Virginia and also serves its members through about 4,000 shared-service locations nationwide.