Vermont ‘Banking’ Dispute Prompts Industry Rally
The Vermont clash over the words “bank” or “banking” widened last week as CUNA, two state leagues and credit union executives weighed in.
As one offshoot from the legal fray that is currently embroiling the $600 million Vermont State Employees Credit Union of Montpelier in a threatened cease-and-desist order, CUNA and the South Carolina Credit Union League suggested that copyright protection remains a key defense for at least one national branding campaign, “Every Day Is Bank Transfer Day.”
Two weeks ago, South Carolina Federal’s attorneys contacted the Vermont commissioner’s office regarding a formal request to retain “Every Day Is Bank Transfer Day” in Vermont once the cease and desist proceedings get under way.
Meanwhile, the president/CEO of the New Jersey Credit Union League, Paul Gentile, said his league supports its Vermont peers, while also praising NCUA Board Member Michael Fryzel for an informal offer to help in confronting the cease and desist order.