Creating CUNA

By 1934, credit unions and leagues recognized the need for a national organization. At a meeting at Estes Park, Colorado, the Credit Union National Association (CUNA) was formed. It replaced the Credit Union National Extension Bureau and Roy Bergengren became CUNA's first managing director.

Also in 1934, Congress passed a federal credit union act permitting credit unions to be organized anywhere in the United States. The legislation allowed credit unions to incorporate under either state or federal law, a system of dual chartering that persists today.

Almost immediately after its organization, CUNA recognized a need for credit-union-oriented insurance services and standardized office supplies. In 1935, CUNA formed the CUNA Mutual Insurance Society.

In 1996, CUNA conducted a movement-wide study, the Renewal Project, and changed its bylaws to:

• Make credit unions members of both CUNA and their league (they previous were affilated with CUNA only through their league);
• Provide for credit union election of 18 of 24 CUNA Board members; and
• Allow credit unions to vote on CUNA bylaw and dues changes.

Today, CUNA provides credit unions with the products, services, and leadership needed to compete in today's financial marketplace.