Kentucky credit unions hailed a May 20 ruling by the Kentucky Supreme Court that struck down a long-running banker challenge on community charter field of membership expansion.
Credit unions in the state began assessing their options last week in moving ahead with new member solicitation.
Despite what it called a "major court defeat for the banking lobby." which had tried to block community charters by questioning state regulatory authority, the Kentucky Credit Union League said it does not anticipate a huge rush of CU applications but does expect CUs will be reactivating mothballed charters held in abeyance since 2006.
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