ODESSA, Texas — Reader feedback to a local story about a credit union to bank charter conversion suggests that member opposition to the move is at least flickering among some of the members of the $113 billion First Basin Credit Union.
The state chartered credit union has an application pending before the Office of Thrift Supervision to convert to a federally chartered mutual bank.
A local paper, the Odessa American, wrote about the pending conversion in late October and feedback to the story posted online gave opponents to the move a place to vent their concerns.
Of the roughly 19 online comments to the story, only one favored while the rest expressed strong opposition.
“Let the people that want big business loans vote yes for the conversion and those of us who don’t need one vote NO! I don’t remember telling the board that business loans was [sic] what we needed at the credit union,” commented one person who signed Concerned Member. Another wrote to merely ask: “How do we go about replacing [First Basin CEO] Shem and the gang?”