ODESSA, Texas — The credit union that most recently suspended its attempt to become a mutual bank worries that someone might have compromised its security and stolen member data in order to call members to get them to oppose the conversion attempt.
Officials with the $114 million First Basin Credit Union have not yet commented on the conversion suspension to the trade press, but CEO Shem Culpepper told local media outlets on Friday that the CU was investigating whether member data may have been stolen and who, the credit union alleged, might have been calling members to tell them they would lose their funds on deposit if the conversion went through.
Leaders of Save First Basin, the member group opposed to the conversion, denied their group had made any calls and some members opposed to the conversion scoffed at the CU's allegation, suggesting that it was merely a way for the credit union to save face after, the members suggested, balloting on the measure ran so heavily against it.
Members appear determined to oust CU board members over the failed conversion which they complained cost the credit union too much money and over the CU not releasing the results of the balloting up until it suspended the voting. However, it is not yet clear whether the members will petition for a special meeting to recall the board or will seek to do so through regularly scheduled elections.
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