Opinion letter from state regulators provides apparent authority for Technology Credit Union to pursue conversion to bank.
The $886 million Andrews Federal Credit Union in Suitland, Md., converting to Symitar Episys core processing platform and running it in-house.
Two Technology Credit Union members have joined forces to fight the potential coversion to a bank charter. Carlos Rodriguez and Robert Marinace announced July 18 the creation of “Save TCU,” a group to organize other members opposed to the move.
Carlos Rodriguez said he did not join the credit union only to oppose the credit union's attempted conversion to a mutual bank charter.
Rules require credit union to email arguments to other members, with some conditions attached.
Entrepreneur said he was told of plans when he went in to open an account.
CU*Answers said it has converted the $102 million Building Trades Federal Credit Union in Maple Grove, Minn., to the CU*BASE core processing system from CU*Answers, the Grand Rapids, Mich., CUSO said.
Credit union notes Matz testimony about member business lending cap, while 34-year member says conversion bid all about making money in stock sale.
Technology Credit Union is offering members a chance to win more than $15,000 in cash and four iPads as an inducement to vote.
Some places in the U.S. still have vibrant housing markets.