In a reported first in the nation for a credit union, the $346million Vermont Federal Credit Union of Burlington finds itselfwith an Occupy activist on its board.

Eric Davis, a research assistant in ecological economics at theUniversity of Vermont, was elected last Thursday at VermontFederal's annual meeting, capping off a month of public dialogue inthe Burlington media, both print and online, about credit uniongovernance and the democratic process.

Davis' victory also figured in lengthy phone discussions withNCUA staff about credit union voting procedures leading up to theelection in which three incumbents also were re-elected.

“We strongly support the democratic process and we welcomeEric Davis on our board and look forward to working with him,” saidBernie Isabelle, the credit union's president/CEO.

Isabelle acknowledged a series of phone calls between him andthe credit union's legal counsel and the NCUA to resolvecomplicated technical and timing issues following the death of JoanWilson, an incumbent director who was on the original recommendedVermont Federal slate.

Isabelle said he has met Davis and expects that he would abideby all of the credit union's code of ethics and professionalstandards governing directors. Davis, named to a two-year term, wasslated to go through orientation in the next few days prior to aregular Monday board meeting.

“I care deeply about both Vermont Federal and the larger creditunion movement and I'm hopeful that we can move past the electionand work together to improve our cooperative,” said Davis, who saidhe has participated in monthly meetings of Occupy Burlington.

Isabelle said it is important that Davis in serving VermontFederal understands he represents all 33,000 members rather thanthe reported 30 drawn from the ad hoc Vermont Federal Credit UnionMembers Assembly, a group Davis helped found.

Davis was not alone in seeking a director slot as an activist.He was joined by Matt Cropp, a computer literacy specialistemployed at a Burlington non-profit aiding the homeless. Cropp wason the ballot but was not elected.

A five-year member of Vermont Federal, Cropp told CreditUnion Times he has great admiration for the work andphilosophy of credit unions but has questioned how managementtreats members on overall governance.

Both Davis and Cropp, who has done research work on credit unionhistory for the Association of Vermont Credit Unions, said theVermont Federal Credit Union Members Assembly is an offshoot ofOccupy Burlington but is a separate entity. The group plans tomeet next week to discuss the election results, they said.

The group has its own Facebook page and blog and has been activelychallenging Vermont Federal's voting procedures. It charged lastweek prior to the election that “the democratic process is inperil” at the credit union.

In a two-page press release, the group accused VermontFederal's directors of “undermining democratic governance byintending to bypass a vote of the full membership in filling anewly vacant board seat.”

In the actual balloting reported by Vermont Federal, Davisgarnered 51 votes with incumbent director Jeffrey McDonoughreceiving 132, Francis Broughton, 130 and Jean Isham, 130. Croppgot 38 votes. There were 162 ballots cast.

Both Davis and Cropp have said that a goal in gaining a boardseat was to give credit union members a larger voice in creditunion involvement in community projects and in charitablegiving.

Cropp said another major goal also is to allow Vermont Federalmembers to attend board meetings and to get access to boardminutes.

“I think the model for a credit union should be the same as thefood bank co-op I belong to which posts its minutes online,” hesaid.

Cropp has suggested the credit union might devise a procedurewhere credit union members could select favorite charities,presenting it to management.

Citing trademark concerns, Isabelle said he is troubled by theassembly's use of the Vermont Federal name and has requested thegroup discontinue it. Davis has said the Isabelle plea wouldbe taken up at its next meeting, planned next week.