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.
Members opposed to the proposed conversion of Technology Credit Union from a credit union to bank charter are combining their efforts.
Credit union hiring bank executives before vote to become bank.
Carlos Rodriguez said he did not join the credit union only to oppose the credit union's attempted conversion to a mutual bank charter.
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.
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.
Credit union points to recent history as reasons to expect taxation.
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.