Former Executives Spearhead DFCUFinancial Members
DEARBORN, Mich. - (02/23/06) -- Several prominent former executivesat DFCU Financial have signed up to a members group measuring thelargest credit union conversion to bank yet. The group, callingitself DFCU Owners United, is seeking support from the credit unionmovement to finance advertising to educate members on theconversion of the $1.8 billion credit union, according to MargaretBlohm, former marketing director of the credit union who has helpedorganize DFCU Owners United. "We want full and fair disclosurebefore the members vote," Blohm told The Credit Union Journal. "Iwant to know how this will benefit me." Also joining the group areDonald MacKinnon, former president and a founder of the creditunion giant, Linda Malec, former chairman of the board, and severalother former employees and members. The credit union has proposedconverting to a mutual savings bank, then selling part of theinstitution to the public in an initial public stockoffering.