Fifteen members of the roughly 70,000-member, $1.6 billion Technology Credit Union rallied for two hours Wednesday outside the credit union's San Jose, Calif., headquarters to show their opposition to the credit union's proposed conversion to a mutual bank.

Rally organizers said the 11 a.m.-1 p.m. event was peaceful and described the credit union as “accommodating,” allowing them to protest outside the front of the credit union, provided they did not block entry or exit, and even sending a credit union employee out with bottled water during the event.

“That was nice to see, especially since while we disagree over this proposal, it's still our credit union, you know” said Carlos Rodriguez, an organizer of the conversion opposition.

Rodriguez said the protesting members were a little curious about two men who drove up to the front of the credit union during the protest and parked there for a while. Neither man got out of the car, Rodriguez said, but the man in the passenger side took pictures of the protestors before the car drove away.

“We don't know if this was security or what,” Rodriguez said, adding that members found the men's behavior odd and perhaps a little sinister.

“We're all credit union members,” he said.

Rodriguez said other organizations which also opposed the Technology Credit Union charter change proposal had offered to send people to support the effort, but that the members group opposed to the charter change had declined.

“This is about our credit union and we felt it best if only credit union members were here,” he said.

Credit union members will vote on the conversion beginning this week. A special meeting of the members has been called for Sept. 12 where members also can vote in person.

Instant Insights /

Tech CU Rally Draws Handful to Protest Proposed Bank Conversion

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