TALLAHASSEE, Fla.-The Florida Credit Union League reported lastweek that it has uncovered ties between Mark Dern, the individualclaiming in postcards to be looking to invest $5,000 with variouscredit unions nationwide, and the Florida Bankers Association. BothDern and the Florida Bankers Association are represented by the lawfirm of Akerman Senterfitt. Dern Capital Management Corporation,which counts Dern and Alvin Dern as principals of the firm and hasfiled paperwork each year with the Secretary of State's Division ofCorporations, listing Leonard H. Bloom as the firm's registeredagent. Bloom is an attorney with Akerman Senterfitt with offices inmost Florida cities and Washington, D.C. and boasts it is the"general counsel to the Florida Bankers Association," according tothe firm's Web site. In May, 1,200 credit unions all the way out inHawaii and Texas have received postcards from Dern requesting topurchase five-year, $5,000 share certificates. Calls from CreditUnion Times to the number on the postcard and Dern CapitalManagement were not returned prior to deadline. CUNA has alsoreported that credit unions in Vermont and Michigan have receivedsuspicious phone calls and mail about membership. Many in thecredit union community believe this is a test of credit unions'adherence to field of membership restrictions. Dern declined tocomment previously to the Florida league about why he was involvedin the postcard effort or why he did not just contact a Palm BeachCounty credit union. An investment advisor, who wished to remainanonymous said previously that he had advised Dern to make offersto try to become a member of credit unions that are more likely togo public. The advisor said he knows nothing of the "bigcoincidence" that Dern and the Florida Bankers Association use thesame law firm. FCUL President and CEO Guy Hood questioned Dern'smotives. "It is obvious when reading Mr. Dern's background andqualifications that he is a very sophisticated investor. We remaincurious if Mr. Dern wants to join a credit union why he doesn'tsimply inquire of the credit unions in Palm Beach County," Hoodsaid. Dern holds a juris doctorate from the University of Floridaand has a BBA in Finance from the University of Texas at Austin,according to the biography on his Web site. [email protected]

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