Expelled Board Members Sue for Reinstatement

VANCOUVER, Wash. — The members of the $725 million Columbia Community Credit Union’s board and supervisory committee who were expelled from the credit union on Aug. 15 have sued to regain their seats. The lawsuit from former board members Cathryn Chudy and Kathryn Edgecomb and former supervisory committee member Lloyd Marbet names the credit union and Washington State’s Department of Financial Institutions as defendants. The Save Columbia Credit Union Committee, which as an organization had a membership in Columbia, was also expelled from the credit union, as was one of its supporters, Robert Tice. Both Save CCU and Tice have joined the suit as plaintiffs. The suit alleges that the credit union has acted unlawfully in its expulsion of the members and that DFI did not fulfill its responsibilities toward Columbia’s members. The suit also alleges that DFI failed to act because Columbia’s current CEO, Parker Cann, is a former director. “Plaintiffs allege that DFI’s inaction is improperly based in part upon a close friendship between career officials in DFI’s DCU and Columbia’s CEO, Parker Cann, who recently directed DFI,” the suit said.