On April 4, 2025, Jim Nussle, President and CEO of America’s Credit Unions (ACU), announced his intention to retire—concluding more than 11 years at the helm of our national trade association. His tenure was marked by a defining achievement: the historic merger of the National Association of Federally-Insured Credit Unions (NAFCU) and the Credit Union National Association (CUNA).

This unification reshaped the credit union landscape and set a new course for our industry.

As a member of the Small Credit Union Committee, I had the privilege of hearing from Nussle during our most recent in-person meeting at the Governmental Affairs Conference—just one month before his announcement. Amid the largest and most well-attended credit union gathering of the year, he made time to meet with us. He listened, acknowledged our challenges, and showed up when it mattered most.

Replacing a leader of Nussle’s caliber is no small task. The ACU board’s decision on his successor will have a profound impact—especially on the future of small credit unions. Fortunately, our committee chair, Rich Mohr, has a seat at the table and continues to advocate tirelessly on our behalf. His presence ensures that our voices are not lost in the noise.

But we must ask: what happens if the next leader overlooks the needs of small credit unions? What if the Small Credit Union Committee is disbanded, and its resources redirected? We need a leader who understands the unique challenges we face—someone who will fight to prevent overregulation from driving us out of business. We need a leader who will advocate for all credit unions, large and small, and who remembers that the majority of our industry is still made up of “small” institutions.

As of March 31, 2025, approximately 2,321 credit unions held less than $100 million in assets. But the industry is evolving—and not always in ways that benefit the member.

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In 2015, there were 45 credit unions with over $5 billion in assets. Today, there are 85. Meanwhile, the total number of federally insured credit unions has declined from around 6,270 to just 4,411. Growth isn’t inherently bad—but when it comes at the expense of the member in need, we must ask: who are we really serving?

Some trade associations have embraced a model of unchecked expansion, prioritizing scale over service. We once stood for Main Street—not Wall Street. Today, too many leaders operate from high-rises, far removed from the communities they claim to serve.

The consequences are real. The credit union tax exemption is under scrutiny in Congress. Harmful legislation has already passed in Illinois (Interchange) and Washington (Taxation on Bank Sales). Large credit unions may weather these storms. Small credit unions? Not so easily.

Some potential candidates to lead ACU have been architects of this growth-at-all-costs mentality. Is that the direction we want for our national trade association? If so, we risk losing not just our identity—but our future.

The small credit union—still the backbone of our movement—could vanish. Consumers would be left to choose between large banks, mega credit unions, and underregulated FinTechs. And it’s the average American who would suffer most.

In the coming months, we’ll learn who will succeed Nussle. That individual will have big shoes to fill. My hope is that we choose a leader who will protect the entire credit union movement. The ACU board must consider the needs of credit unions of all sizes. If not, the industry as we know it may cease to exist.

This decision is not just about leadership—it’s about survival. For small credit unions, it may be the most consequential choice of all.