Bid To Challenge CU-To-BankSwitches
AMARILLO, Texas - (02/03/05) -- A task force on charter conversionsformed by the Texas CU League in the wake of Community CU'sannouncement it will seek to become a bank held its first meeting.Dick Ensweiler, head of both the Texas league and chairman of CUNA,said the first meeting of the nine-member task force wasintroductory in nature and designed to distribute materials relatedto conversions to all participants. The goal is to guide the leaguein what stance in should take, if any, on such conversions,Ensweiler said. Among those materials was information on the publicstance taken in newspaper ads by the Michigan league to informmembers of Lake Michigan CU about what a vote to convert to a bankwould entail. But Ensweiler the other side of that argument wasalso discussed. "Some people say it's the members' decision and theleague doesn't get involved in other member decisions, so whyshould it in this one?" he told The Credit Union Journal. The panelwill meet again next week during the league's Governmental AffairsConference in Austin.