With the fate of the proposed CUNA bylaw changes now in the hands of credit unions andleagues, some industry leaders said they feel anxious anduncertain, while others noted they remain optimistic and confidentabout the long-term effects of membership choice on the creditunion movement.

“I don't think anybody at this stage is really going to be ableto make a great assessment of what it means from a membershipstandpoint,” Pat Jury, president/CEO of the Iowa Credit UnionLeague, said.

He also chairs CUNA's Corporate Governance Committee, whichpenned the proposed bylaws.

Although the membership choice issue has triggered the most controversy, theother proposed bylaws changes would allow CUNA's board of directorsto develop a dues formula that would favor neither small nor largecredit unions, as well as permit the CUNA board to adjust itsmembership from its current maximum of 24 to a minimum of 12.

“Clearly, the most abundant issue is how can we continue tostill work together and create an environment of interdependenceeven though we're not structurally tied that way, so we cancontinue to serve credit unions and their members into the future,”Jury said. “And I don't know why things need to changesignificantly from that. There may be some membership pickups andthere may be some members you lose, but you have to carry on.”

John Murphy, president/CEO of the Maine Credit Union League,which wants to maintain dual membership, said even though it'sunknown what the future credit union system will look like undermembership optionality, he believes there is going to be somesplintering in the system.

“Obviously, it's going to be different going forward, but onlytime will tell what these decisions will have on the overallstrength of the credit union system,” he said. “As I look at thedual membership requirement, however, it certainly has been asignificant factor for credit unions achieving such a strong stateand national presences over the years, so I have seen the benefitsof the dual membership requirement.”

Speculation is running high about what the future credit unionlandscape will look like under a membership choice model, includingwhether state and national advocacy will be substantially weakened,whether choice will create cutthroat competition among the leaguesfor credit union members and whether choice will lead to theeventual merger of NAFCU and CUNA.

Read more about what credit union leaders are saying aboutthese issues and more in the Feb. 24, 2016 print issue of CreditUnion Times.