Texas credit unions free to convert
Northwestern Financial Review, Oct 1-Oct 14, 2005
Two credit unions in Texas are free to follow through on their applications to become mutual savings banks, following a decision by the National Credit Union Administration in late August to drop its objections. The members of the Community Credit Union of Plano and the OmniAmerican Credit Union of Fort Worth had voted to approve the charter switch but the NCUA refused to certify the elections because it said the disclosure documents mailed to members by the credit unions were folded improperly.
The credit unions were suing the regulator over the ruling.
Copyright NFR Communications Inc Oct 1-Oct 14, 2005
Provided by ProQuest Information and Learning Company. All rights Reserved
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