WAYNESBORO, Va. – The DuPont Community Credit Union field-of-membership case involving the Virginia Bankers Association’s appeal of a decision by the commissioner of the state Bureau of Financial Institutions to approve FOM expansion request by the credit union has been scheduled before the State Supreme Court for Jan. 14, 2004. In June 2002, the VBA appealed Commissioner Joe Face’s decision he made the previous month to allow DuPont CCU to expand its community FOM to five counties and five cities in the Shenandoah Valley. The VBA’s appeal centered on the issue of whether the credit union’s charter was too large to qualify as a “well-defined local community, neighborhood, or rural district” as stipulated by Virginia law. The Virginia League, which filed its own brief in the case as did Commissioner Face and DuPont CCU, argued that the VBA lacked standing to bring the complaint. League President/CEO Rick Pillow said the Bureau “is well within its authority to grant new community charters or expand existing ones,” and he described the case as being “a critical issue” concerning parity between federal and state-chartered CUs.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


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 © 2023 ALM Global, LLC. All Rights Reserved.