WASHINGTON — Members of the $314 million Lafayette Federal Credit Union, particularly those who are employees of the U.S. Agency for International Development, will continue to seek a special meeting at which some or all of the sitting board members can be recalled, according to Tom Carter, a U.S. AID employee and member who works to help organize cooperatives internationally.
Carter is one of the members who has been active in pressing for a special meeting to let members vote to recall board directors who supported the CU's attempt to become a mutual bank.
The group submitted roughly 800 signatures on a petition for a special meeting, but the CU denied the petition after disqualifying a number of signatures. The members put the petition effort on the back burner while preparing for the annual meeting where a slate of candidates only narrowly missed being elected.
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Carter said the results of the election and the way the CU leadership acted at the meeting has added energy and passion to the member effort. "Without a doubt [CU Board Chairman Arnold] Rosenthal is the most obstreperous, difficult and cantankerous CU CEO around," Carter said. "Just seeing the way he handled things at the meeting has prompted a good many people who were sitting on the fence regarding the special meeting to want to get more involved."
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