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VACU Loses Three-Year Battle to Bankers Over FOM Expansion

No decision has been made yet on whether to appeal the ruling by the State Corporation Commission.

Judge's gavel and law books sit nearby. Source: Shutterstock.

One of Virginia’s largest credit unions said Monday it hasn’t decided yet whether to appeal a recent ruling by the State Corporation Commission denying its request to open its field of membership to the Medical Society of Virginia, which bankers strongly opposed for more than three years.

“We are disappointed by the decision. We believe that extending membership eligibility as an option for members of the Society was reasonable,” Virginia Credit Union (VACU) Director of Public Relations Glenn Birch said in a prepared statement. “We’ve made no decisions about an appeal.”

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Peter Strozniak

 

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