X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WEST PALM BEACH, Fla. – Credit Union Times’ just completed voting poll on thrift conversions shows there’s not much middle ground when it comes to member voting requirements in thrift conversions. Currently credit unions seeking to convert to a thrift charter need only a majority of those members voting to approve the conversion. So far CU conversion votes have been plagued by weak voter turnout, thus leaving a very low percentage of members making a major decision for the entire membership. The new credit union regulatory bill introduced recently requires that at least 20% of members participate in the vote in order for a vote to be valid. Credit Union Times wanted to know how people felt about this issue. The following is the voting poll question and results. “Do you think there should be a minimum required percentage of members voting to approve a conversion for a credit union to a mutual savings bank. If so, what’s the right percentage?” * No, I think current set-up is fine

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

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.