DETROIT — One of the last shoes left over from the failed 2005-2006 attempt to convert Michigan's largest credit union to a mutual bank charter has finally dropped.

A Michigan court has sided with members of the $1.9 billion DFCU credit union on important questions like whether DFCU should have had to hold a special meeting in accord with its bylaws and whether members have a right to inspect the documents of the credit union.

The DFCU members who won the decision have declined to comment upon it or to reveal any details pending a review of the case and a decision about what to do next, according to Margaret Blohm, one of the members for whom the court decided.

DFCU credit union filed to convert to a bank charter in December 2005, faced strong opposition and withdrew the application in April 2006. Prior to the withdrawal members mounted a petition drive for a special meeting where some or all of the CU's board of directors could be recalled and, even though they collected sufficient signatures, the CU refused to hold the meeting. Members took the credit union to court, first in Federal Court and then in State court and this decision is the state court's ruling.

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