California agency says it will proceed even though statutes are mum on credit union to bank conversions.
Industry observers point to credit unions buying banks, note that Boston conversion involves unique state charter.
Regulatory hurdles remain after Boston credit union's members approve change to co-operative bank charter.
Boston-area credit union founded in 1917 now to make move to mutual co-operative bank charter.
Special meeting date falls 13 months after Boston-area credit union first announced its intentions.
The days when credit union board could reliably count on members to vote themselves out of being members have largely ended.
Results dismissed by executive of the California credit union in the wake of the quashed bid to become a bank.
Fresh from winning balloting opposing bank conversion, dissident Technology CU members considering call for CEO, board changes.
Results tabulation from member meeting and mail balloting conducted simultaneously then to be reported to NCUA.
Fifteen members of Technology Credit Union rallied Aug. 15 outside the credit union’s San Jose, Calif., headquarters to show their opposition to the credit union’s proposal to change to a mutual bank charter.