DCUL/MDCUL Merger Ballots SentOut

COLUMBIA, Md. - (07/05/05) Now that the Town Hall meetings on theproposed merger of the Maryland and Washington, D.C. leagues arecomplete, ballots are being sent out for member credit unions tovote on the union. Two-thirds of the affiliated credit unions ofthe MDCUL and the DCCUL must vote yes on the merger to comply withthe corporate statutes in both jurisdictions, and not voting equalsa "no" vote, observed MDCUL CEO Mike Beall. "We need every singleaffiliate to return a ballot." DCCUL members will vote by mailballot. In Maryland, there is a two-step process requiring CUs tofirst approve the new trade association's bylaws via mail ballot,then, as required by Maryland state law, the league'sowners/affiliates must vote in a special membership meeting to beheld July 28 from 10 to noon. The league is setting up a way formember credit unions to call in their votes if they are unable toattend the meeting.