VANCOUVER, Wash. -- The $700 million Columbia Community Credit Union, has postponed its annual meeting and election to consider the impact of a recent Court of Appeals ruling on that election.
At issue is when the term limits the board put into place in 1999 were meant to start. In its complaint Save CCU made the case that the term limits effectively prevented two then sitting directors from running again or remaining in office. The credit union took the position that the term limits only applied to board terms that began after the term limits were put into place. The Court of Appeals declined to rule on the issue and sent the case back to a lower court for further review.
The problem the CU has is that one of its current board members, who is running to retain his seat, and who the CU has endorsed, is Mark Ail, one of the sitting board members who the court could decide has overstayed his term.
"As soon as the Board makes decisions about the rescheduled Annual Meeting, you'll be among the first to hear," the credit union board said in a letter to members.
