DEARBORN, Mich. - (05/01/06) DFCU Financial fed members freefood and handed out trinkets during an impromptu rally Saturday topromote the rescue of the board of directors who are currentlybeing threatened for recall for their support of the creditunions ill-fated bid to convert to savings bank. Two tentswere pitched outside DFCUs Fairlane branch to fete membersfor a special Appreciation Day, part of anunprecedented campaign to save the directors. The member fete waspart of a local media blitz being launched that includes billboardsand ads in all the local papers and the credit unionsvan patrolling the neighborhoodsall urging aNO on the recall. DFCU Owners United, themembers group organized the beat the conversion, haslaunched its own campaign with local radio ads to force the recall,according to Margaret Blohm, one of the leaders of the group, whodoubted the credit unions efforts to save the directors.I think thats going to work against them,Blohm told The Credit Union Journal Sunday. Meantime, the group hasnot been notified by the board whether will acknowledge a petitionfrom 1,760 members asking for a special meeting to vote on theboards dismissal.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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