CUNA stressed Friday its one-day Corporate Summit meeting next week in Chicago that will bring together top trade, vendor and corporate brass is designed to develop a concrete, actionable plan to protect CU operations.
"We in no way are attempting to force outcomes," said Pat Keefe, vice president of communications.
At the Nov. 13 Chicago conference, he said, a discussion of services needed by credit unions and those now available from corporates or providers will be followed by a group discussion on a plan going forward "developed by credit unions for credit unions."
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"We are very aware of the great urgency to begin developing answers for credit unions," Keefe said, adding that the 80 Chicago invitees include CEOs from top CUNA panels, corporates, leagues, NAFCU and user/vendor groups.
These individuals "represent the key players/stakeholders affected in ensuring continued financial services to credit unions," he said.
NAFCU CEO Fred Becker Jr., who will be attending the Chicago meeting, maintained that apart from next Saturday's conclave, large and small CUs across the country are already moving ahead–and quickly–to schedule meetings with corporate credit unions or other service providers to review their options.
"If, in the very unlikely event corporate credit unions are not able to provide the services that a member-owner natural person credit union indicates it needs, I am confident that some entity from inside or outside the credit union system, for example the Federal Reserve or the Federal Home Loan Bank System, will provide that service, for that is what makes our country's economic system so great," Becker said.
He added that the corporates themselves are acting on their own to reshape the landscape, pointing to what he said was a recent "merger" plan, an apparent reference to the proposed Iowa Central Corporate service takeover by National Cooperative Bank of Washington.
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