WASHINGTON -- National Association of Community Credit Unions' Board decided after Executive Director Marc Selvitelli announced his departure to recommend that the organization be disbanded.
A full membership vote is currently underway to officially dissolve the organization. NACCU Chairman Marcus Schaefer, president and CEO of Truliant Federal Credit Union, said that CUNA would be assuming NACCU's activities.
Four NACCU Board members have been named to CUNA's new Community Credit Union Committee. CUNA will also continue the annual community credit union conference; continue the Community Credit Union of the Year award; and develop white papers and events specific to community credit unions.
Recent litigation from bankers' groups and legislative and regulatory wrangling over community charters have pushed the community charter to the forefront at CUNA. Schaefer said it was time to re-evaluate the group's purpose before committing to a new executive director.