X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Tempers have been running high among both the opponents and proponents of credit union-to-bank charter conversions as the DFCU struggle has heated up. A flurry of letters from the Coalition for Credit Union Charter Options and David Adams, CEO of the Michigan Credit Union League, illustrate the point. The coalition kicked off the exchange with a March 31 letter to Adams and the entire MCUL Board in which, among many other things, CCUCO Executive Director Lee Bettis expressed incredulity that “your board of directors has sanctioned your reckless and hypocritical behavior.” Adams responded to the banker group with a same day reply, noting that CCUCO even has the words “credit union” in its name. “How can an organization run by bankers, that actively supports the bankers associations’ strategy of `contain and convert’ profess to advise credit unions or credit union associations on anything?!” Adams wrote. “You would be better off advising the bankers associations and I would expect that relationship is already strong and cordial.” The exchange continued with an additional letter from Bettis, which Adams declined to answer beyond a note saying they would have to agree to disagree and a letter from Terry Denmark, CEO of the $17 million Dearborn Village Community Credit Union, which Bettis had disparaged for its contribution to the DFCU Owners United group. Denmark shared his remarks to Bettis in a letter to Credit Union Times. (See page 16.)

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

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.