The “Battle Over the B-Word” was heating up Tuesday with Vermont's top credit union regulator, bankers and the $600 million Vermont State Employees Credit Union.
Three Northwest states–Washington, Oregon and Montana–have become the nation’s epicenter of merging activity among credit unions, with supporters claiming the trend underscores a higher level of member service.
I was galled at the childishness of bankers in Vermont putting the regulator up to blocking a credit union from using the term “banking” in its marketing materials, and the state regulator for his, at best, naiveté. Readers had the same reaction as you can see from the comments posted...
State regulator calls for cease and desist order.
Association of Vermont Credit Unions asks state regulator to relent on order, saying "consumers use the term to describe what they're doing" not where.
CEO Steven Post said he has asked Vermont regulator for more information about complainant and expects hearing on appeal in four to six weeks.
Credit union hit with banker-backed state order to quit using "banking" in ads and marketing.
The 70,000-member, $1.7 billion Technology Credit Union of San Jose, Calif., has broken new ground in its attempt to convert to a mutual bank charter.
State association cites new acting secretary's service on CU credit committee while serving in the Air Force.