CUNA's 2014 Budget Can Adjust to SECU Dues Loss
CUNA will modify its 2014 budget to make up for the disaffiliation of the $27 billion State Employees’ Credit Union.
“This disaffiliation happened early enough in the year that we can make the necessary adjustments to deal with it,” Pat Keefe, CUNA’s vice president of communications, told Credit Union Times.
“We do budget and plan for items such as membership attrition and dues waivers, as well as re-affiliations,” he added.
Jim Blaine, CEO of SECU told Credit Union Times that SECU has decided not to renew its combined $340,000 membership dues – $250,000 to CUNA and $90,000 to CCUL. Blaine said serious issues were not being addressed by both organizations.
“SECU asked that consideration be given for credit unions to have the option to separately choose between membership in CUNA and the league,” Blaine wrote in a letter to John Radebaugh, president/CEO of the Carolinas Credit Union League.
Keefe said dual membership in both CUNA and the leagues by credit unions has been required since the 1990s.
“This ensures strong representation for credit unions at the state and national levels, and (in particular) gives us grassroots reach that no other trade group can match,” Keefe said.