The $1.6 billion Texas Dow Employees Credit Union has disaffiliated from CUNA and the Texas Credit Union League, Credit Union Times learned today.
Among the various reasons for leaving the nation's largest credit union trade association, TDECU's letter to league President/CEO Richard Ensweiler and CUNA President/CEO Bill Cheney listed lack of volunteer governance on the league and national boards, vendor domination of association meetings "matched by a continuing decline in substantive educational content," divergence of interest between large and small credit unions, difference of opinion on legislative and regulatory advocacy issues, and continued alignment with for-profit financial services industry advocates on issues like bankruptcy and credit card reform.
"Our board of directors judges that TDECU gains little by continuing its membership," the letter stated.
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