WASHINGTON — Unsurprisingly, the National Cooperative BusinessAssociation, an organization on record as opposing CU to bankcharter conversions, has urged the NCUA to demand a revote.

“The National Credit Union Administration needs to seriouslyconsider voiding the vote on conversion of Lafayette Federal CreditUnion to a mutual savings bank,” said Paul Hazen, NCBA Presidentand CEO.

“Given reported irregularities in the vote, an 18-votemargin–less than one-half of one percent of ballots cast–is simplyinsufficient to trigger the destruction of one of the oldest creditunions in the Washington area. If nine of 2,555 yes votes had beenrecorded differently, the proposal would have failed.

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