TALLAHASSEE, Fla. -- Sunshine State first applied to become a bank in 2003 and withdrew the application when it became clear that, for a variety of reasons, which were never explicitly articulated, the Office of Thrift Supervision was not going to approve the application.
Now, under new leadership, the CU is back and is conducting the process all over again. If all goes according to schedule, the OTS should let the credit union know of its approval by early February. After more than 75% of members approved the first vote in 2003, the credit union is confident members will approve this application as well. The special meeting to consider the second bank application is scheduled for Jan. 9, 2007.