Thank you for sharing!

Your article was successfully shared with the contacts you provided.

JEFFERSON CITY, Mo. – In another win for state-chartered credit unions, the Missouri Court of Appeals Western District affirmed the decision of Cole County Circuit Court denying the Missouri Bankers Association and a Century Bank of the Ozarks standing to appeal Missouri Division of Credit Unions Director John Smith’s field-of-membership expansion decision in October 2000 for Telcomm CU. “I hope this latest ruling will settle the matter and allow credit unions to serve the citizens of this state unfettered by judicial proceedings,” said Smith in a statement. Telcomm CU did business as Springfield Telephone Employees CU in 2000 when the CU filed its application with the Division of Credit Unions in July to expand its FOM to include people who live or work in the 417 or 573 area codes. Smith approved the expansion for the 417 area code, but not the 573. In November, the MBA and Century Bank of the Ozarks filed an appeal of Smith’s decision with the seven member Credit Union Commission, and in May 2001, the Commission upheld Smith’s decision. In September, the bankers filed a petition for administrative review with the Cole County Circuit Court. In January 2002, the Court ruled the bankers lacked standing. In May, the bankers took their case to the Western Appelate Court.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.