X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
President Bill Clinton signs the Credit Union Membership Act into law. Photo courtesy of NAFCU.

What began as a court case by banks to stop credit unions from adding multiple groups to their membership ranks became a defining moment for the industry, and ignited a grassroots campaign the likes of which financial institutions had never seen.

Bankers sued the NCUA in the early 90s for allowing the AT&T Family Credit Union to expand its field of membership. The credit union, now named Truliant FCU, received permission from the regulator in the early 80s for multiple segs. However, after years in the courts, the case ultimately came to rest at the U.S. Supreme Court, which in February 1998 ruled in the banks’ favor.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.