Across the country, there is a growing chorus suggesting that credit unions should merge, consolidate, and “speak with one voice.”

The argument is that larger size brings efficiency, competitiveness, and influence. Sometimes it turns out to be true, but oftentimes it’s short sighted. This perspective misses the essence of the credit union movement-and risks eroding the very identity that has sustained us for more than a century.

Credit unions were not born out of a desire to be big. They were born out of need. From the start, they were designed to serve people excluded by traditional financial institutions-immigrant communities, working families, minority neighborhoods, and underserved populations who had nowhere else to turn for affordable loans or safe savings.

Credit unions provide more than accounts and loans; they provide dignity, personal attention, and financial guidance that empowers members to build a better future. To lose sight of this mission is to lose the movement itself.

Unlike large, monolithic financial institutions, credit unions have always been diverse. Each one carries its own story, its own community, and its own unique mission. Smaller credit unions, in particular, remain essential. They are often the only financial institutions serving rural towns, minority neighborhoods, and working-class communities that banks overlook.

Their survival is not about nostalgia – it is about access. Every time a small credit union disappears, the community it serves loses not just a financial institution, but a partner that understands its people, culture, and struggles.

At Firemen’s Federal Credit Union, we take this principle seriously. Our cooperative duty is not limited by geography. When small credit unions struggle, we step in-sometimes traveling across state lines to provide management, technical assistance, or financial guidance.

We recognize the importance of MDIs (Minority Deposit Institutions) and CDFIs (Community Development Financial Institutions). These institutions play a critical role in serving unique neighborhoods and vulnerable populations. If they are merged out of existence, the members they serve are left behind. That is not just a financial loss-it is a moral one.

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This is not a battle between credit unions and banks. Our mission has never been to fight someone else; it has always been to flourish by serving in ways no one else can. That means personalized decision-making, inclusive service, and cooperative support among credit unions themselves.

The cooperative principle of “credit unions helping credit unions” is not optional-it is the foundation of our movement. Larger institutions should lift up smaller ones. Stronger credit unions should share resources with those in need. When one credit union falters, we do not simply lose a charter-we lose a piece of our movement’s soul.

We must also remember: our tax-exempt status is not guaranteed. It is justified only by our commitment to community service and member ownership. If credit unions drift from their mission-if they begin to look and act like banks-the rationale for that exemption weakens.

Staying true to our purpose is not just about identity; it is about survival. Our exemption depends on our ability to demonstrate, every day, that we are different, mission-driven, and indispensable to the communities we serve.

We do not need fewer credit unions. We need stronger ones-big and small, working together, each fulfilling its unique mission. This is how we will remain relevant. This is how we will honor our founding purpose. And this is how we will thrive long into the future.

Because at the end of the day, the movement does not belong to regulators, trade groups, or even CEOs. It belongs to members. And members deserve credit unions that remember who they are.