CUNA Mutual May Cut Industry Support
A CUNA Mutual infographic released in 2014 puts the value of the firm's annual support of the credit union industry at $39 million.
Dave Adams, president/CEO of the Michigan Credit Union League & Affiliates, said any speculation that CUNA Mutual Group is planning to cut revenues to the state leagues and their league services corporations, is “completely false.”
“I can tell you that it is absolutely false that [CUNA Mutual President/CEO] Bob Trunzo has said anything publicly that I am aware of about dramatic cuts in these marketing agreements,” Adams said. “It's a process that is discussed every year and I am confident we will continue to have very strong good partnership with CUNA Mutual Group.”
Adams’ comments followed reports provided to CU Times by multiple sources that said Trunzo told league presidents CUNA Mutual would cut its support of CUNA and its affiliate leagues by as much as 50%. According to Adams, what Trunzo has said was that he wants to continue to look for the ways to enhance the agreements so that CUNA Mutal rewards performance by those league services corporations helping to drive deeper levels of engagement by credit unions for CUNA Mutual services.
“We always recognize every year that there is always going to be some give and take to make those agreements stronger and better,” he said.
Adams’ statement conflicts with another league president who told CU Times CUNA Mutual would reduce its support when the contract between the parties expires in 2016.
“There will be changes in our agreement and the total amount will be reduced. At this time it has not been defined between the parties,” Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues, said.
Phil Tschudy, media relations manager for CUNA Mutual, declined to comment on the matter, calling it speculative.
According to a CUNA Mutual brochure, the firm provides $39 million in annual financial support to the state leagues and other organizations such as CUNA, CUES, the American Association of Credit Union Leagues, World Council of Credit Unions, America's Credit Unions and America's Credit Union Museum.