The 144,000-member, $1.6 billion Apple Federal Credit Union, Fairfax, Va., has become the first large credit union to leave CUNA this year. Three other large CUs, two from New Mexico and one from Texas, left the trade group last year.
At press time, CUNA had not commented on the departure, but Apple CEO Larry Kelly said the CU's board had made the decision after concluding the trade group was no longer a very effective advocate.
"Can you tell me one major thing that CUNA has done for credit unions in the last 12 years?" Kelly asked.
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