Beehive CU Drops Plan To Convert To bank Charter
SALT LAKE CITY-Behive CU announced last week it is abandoning its long-fought effort to convert to a mutual savings bank, even though 54% of voting members approved the switch a year ago.
Credit union officials were citing the turmoil in the banking market and the reluctance on the part of regulators to approve new bank charters as the main reasons for the reversal. The $190-million credit union would have been the first in Utah to make the switch.
1 Of Last Non-CUNA Groups To Join League
PLYMOUTH, Mich.-The Michigan Association of Credit Unions (MACU) has signed a management contract with the Michigan Credit Union League (MCUL), essentially bringing to an end one of the last states in the country in which two state-level CU associations operated. Under the agreement MACU's membership will be able to use MCUL services and the MACU structure and board will remain in place until Dec. 31, 2010. MACU CEO Linda Schepperly will retire March 1, MCUL CEO David Adams will serve as president/CEO of both organizations. MACU credit unions will be able to join the MCUL and CUNA directly after Jan. 1, 2011.
Employees Drop Teamsters As Union
WEST MIFFLIN, Penn.-Twelve employees of United Community FCU here have voted to drop their representation by a labor union. After 25 years, the dozen employees of the former Auto Workers FCU severed their relationsip with Teamsters Local 249 of Pittsburgh, making the $35.3-million CU a non-union shop.
CEO Mike Pastirik told the Pennsylvania CU Association,"I can't tell you how proud I am of the employees for making this important and trustworthy decision as we move forward."
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