A California judge is scheduled to hear arguments Thursday overwhether the $1.6 billion Technology Credit Union should be forced to share membercontact information with members opposed to its proposed conversionto a mutual bank.
|Results of a member vote on the proposed conversion by the SanJose credit union are pending.
|NCUA regulations provide that credit union seeking to convert tomutual bank charters have to cooperate with members who want tocommunicate with other members about that possible conversion,whether by U.S. post or through email.
|But when Technology members sought to establish suchcommunication in this case, they found the credit union hadadded tracking software that they had not authorized to theircommunications so they have sought member contact information so tobe able to communicate with members on their own.
|The credit union launched the litigation to quash theirrequest.
|They members contend that California corporate law andTechnology Credit Union's bylaws require that the credit unionprovide the information, but the credit union argues that federalbanking laws preclude them doing so.
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