One of the controversial elements to have come out in thedeveloping story has been the history one of Columbia's sharpestcritics has had with the institution. Steve Straub, the former CEOof Columbia Credit Union who has become a key supporter of the SaveCCU member group, sued the credit union in the wake of his firingas CEO in July 1992. Press outlets at that time reported theColumbia board fired Straub in the wake of a consultant's reporthighly critical of his management of the credit union and afterquestions arose about the terms of a recent merger. Stories alsoreported the firing came despite a favorable evaluation eightmonths earlier which gave him high marks in some of the very areasthe consultant's report found lacking. Straub said that the casehad been settled under a confidentiality agreement and he had"moved on" from the events of almost 12 years ago. "These thingshave been brought to light now in an attempt to distract membersfrom what the credit union leadership and board has done," Straubsaid. Straub, now a computer software executive, has denied he hasany interest in running Columbia again or that he is bent uponrevenge for his previous firing. Only two of the board members whofired Straub, Robert Byrd and Dennis McClachlan, remain on theboard.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 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.