IOWA CITY, Iowa — The fallout from the name change flap over "Optiva" at the $544 million University of Iowa Community Credit Union was also triggering a challenge last week to the board's composition.
"Yes, we are facing the prospect of an independent slate to oppose the election of three of our directors," lamented Jim Kelly, senior vice president of marketing at the Iowa City Credit Union, which earlier this month had to backtrack on a long planned name change to Optiva Credit Union.
The decision to scrap "Optiva," which had been set for launch March 1, came after a re-vote of members who complained about abandoning a moniker that stirred "pride" and loyalty to the Iowa college. There were also charges vigorously denied by management that UICCU planned a conversion to a mutual savings bank.
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