Lafayette FCU To Convert To MutualSavings Bank

Published June 15, 2006, 1:00 a.m. EDT

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Updated August 27, 2020, 2:11 a.m. EDT

1 Min Read

KENSINGTON, Md. - (06/15/06) Lafayette FCU became the latestcredit union to seek conversion to a mutual savings bank Wednesday,according to the Office of Thrift Supervision. The $340 millioncredit union would be the first attempted conversion since the bidby DFCU Financial, since withdrawn after a member revolt. LafayetteFCU has a broad field of membership that serves most of Washington,D.C., the nearby community of Potomac, Md., and more than 150select employee groups. Richard Garabedian, an attorney with theWashington firm of Luse Gorman Pomerenk & Schick, PC, isrepresenting Lafayette in the conversion.

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