Mica on Merger of Major Bank Trade Associations

June 25, 2007

FOR IMMEDIATE RELEASE
Contact:
Pat Keefe, CUNA
(202) 508-6765; pkeefe@cuna.com

Credit Union National Association (CUNA) President and CEO Dan Mica issued the following statement today on the news that American Bankers Association (ABA) and America’s Community Bankers (ACB) have announced merger plans:

“My congratulations to the American Bankers Association and the America’s Community Bankers in reaching this merger accord. America’s credit unions hope that the biggest beneficiaries of this merger will be American consumers, who should realize better service by the nation’s banking industry. Undoubtedly, the merger will result in an organization with an even stronger voice for banks here in Washington. The new ABA can effectively use that voice in advocating for legislation and regulation which genuinely benefits banks and their customers – and not in sniping at credit unions (as both associations have done in the past, engaging in inter-trade association one-upsmanship). We have no illusions, of course -- this new body will be a stronger ABA. For credit unions, that means we must maintain a strong national organization to fully represent our 90 million members' interests."

About CUNA
The CREDIT UNION NATIONAL ASSOCIATION (CUNA) is the nation’s largest credit union trade group. With its network of affiliated state credit union leagues, CUNA serves 90 percent of America’s nearly 9,000 credit unions, which are owned by 89 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life.

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