Glenn Latham, head of the Alabama Credit Union Administration, said he was among the first to learn the League of Southeastern Credit Union was questioning his regulatory action against Mutual Savings Credit Union. An e-mail to LSCU Board members, including the work e-mail address of recently dismissed Mutual Savings CEO Dale Dalbey who was treasurer of the board, was automatically forwarded to the regulator after the July 31 conservatorship.
However, both Latham and LaPine say they have agreed to "set the reset button" on their week-old business relationship.
LaPine told Credit Union Times he only meant to address the conservatorship as it related to his board member, particularly news regarding Dalbey's resignation from the board and his replacement. He said he has spoken to Latham about the issue, and said the league's official position is that it's not involved in MSCU's conservatorship.
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"Like I told Glenn, I just started as a new league's new president, and the very first thing I get on my desk is this conservatorship involving one of my board members," LaPine said. "We had an outstanding relationship with our regulators in Michigan, and I want to continue that here in Alabama."
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