Survey of Tech CU Conversion Opponents Finds Support for Leadership Change
A survey of members of Technology Credit Union who organized to oppose the credit union’s proposed conversion to a bank expressed overwhelming support for changing the leadership of the 70,000 member, $1.6 billion institution.
The survey’s results were dismissed by an executive of the San Jose, Calif., credit union.
A total of 164 of the Save TCU group's supporting members expressed an opinion on 10 questions the group asked about its goals going forward after members voted down the proposed charter change to a mutual savings bank in September, organizers said.
The questions ranged from seeking leadership changes at the CEO and board chairman positions to making other possible board changes and seeking changes to First Technology’s bylaws.
On the question of removing Technology CEO Barbara Kamm, who group members see as the originator of the charter change idea, 93.7% of 158 members approved, with six members skipping the question.
On the question of removing Technology Board Chairman Mical Brenzel, similarly 93.7% agree with six members skipping the question.
Speaking for the credit union, Lisa Fettner, vice president of marketing, declined to comment in detail about the survey, noting that it was difficult to know who was surveyed or whether it was done in a scientifically accurate manner.
She did note, however, that with 164 respondents, the survey only represented the views of 0.24% of the Technology Credit Union membership.
“At Tech CU, we regularly conduct monthly satisfaction surveys with our members, and our results have consistently been – and remain – high,” Fettner noted. “Over 90% of our members are satisfied with the products and services that Tech CU provides.”