In a victory for the Virginia Credit Union League, a House panel voted 20-0 Thursday to pare down a banker-backed bill allowing banks to buy credit unions into a measure enabling state CUs to convert to mutual charter.
The Virginia Credit Union League said it is working on a compromise bill in the state legislature dealing with CU-to-mutual conversions.
Rallying to defeat "anti-credit union" bills allowing banks to purchase CUs, the Virginia Credit Union League said today it expects a crowd of 350 to show up in Richmond to meet with lawmakers.
The Virginia Credit Union League was galvanizing its membership Friday for what it called a full court press to oppose state legislation permitting banks to merge with credit unions and vice versa.
Virginia Credit Union members and employees are mourning the loss of retired president Dorothy J. Hall, who died this week at the age of 79.
The Virginia Bankers Association moved ahead this week to formally introduce bills in the state legislature permitting banks to "consolidate or merge" with credit unions and vice versa.
The Illinois Credit Union League has been added to the list of trade groups buying into the Web-based FoolProof literacy package promoted by the Credit Union Associations of Colorado/Wyoming.
Virginia bankers appear ready to introduce a bill in this year's session enabling banks to buy credit unions and vice versa.
Over the Christmas holidays, the Virginia Credit Union League gave its members a gift from Santa: a $300,000 dues rebate.