The Bank Slate


Newly formed CU trade group to cut 80-plus jobs

The newly created America’s Credit Unions plan to lay off 25% to 30% of its workforce, or roughly 80 positions.

The trade association, formed by the Jan. 1 merger of Credit Union National Association and the National Association of Federally-Insured Credit Unions, disclosed in a WARN Notice that it notified “potentially affected workers” on Jan. 12.

The layoffs are expected to take place from March to July and are “a result of a recent merger and forecasts of business needs going forward.”

The cuts will impact jobs in Virginia, Wisconsin, Washington, D.C., and remote locations. A letter to the Wisconsin Department of Workforce Development said some of the cuts would involve employees represented by the Office and Professional Employees International Union.

“Those employees who are in the collective bargaining unit have bumping rights under the collective bargaining agreement with the company,” the letter read.

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