Missouri Bankers' FOM Appeal Is Rebuffed

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The Missouri Credit Union Commission voted last week to dismiss a banking industry appeal of City Utilities Credit Union's FOM, denying the bankers' standing in the expansion.

That FOM approval is one of several that bankers in the state of Missouri are challenging. Missouri bankers have been among the most aggressive in challenging credit union expansions.

In a separate appeal of an expansion approval for Educational Employees Credit Union, the banks have asked for an order of mandamus that would require the Credit Union Commission to proceed with a hearing on the bankers' appeal of EECU's expansion. At an earlier meeting, the Commission had denied the bankers standing to appeal the expansion.

Meanwhile, banks had until Aug. 14 to file a reply brief in the TelComm Credit Union (formerly Southwest Telephone Employees Credit Union) field-of-membership expansion appeal with the Western District Appeals Court in Kansas City. It is not expected that arguments will be heard in that case until October or November.

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