Town Halls Complete, Maryland, DC League Members Voting On Merger
Now that the Town Hall meetings on the proposed merger of the Maryland and Washington, D.C. leagues are complete, ballots are being sent out for member credit unions to vote on the union.
Two-thirds of the affiliated credit unions of the MDCUL and the DCCUL must vote yes on the merger to comply with the corporate statutes in both jurisdictions, and not voting equals a "no" vote, observed MDCUL CEO Mike Beall.
"We need every single affiliate to return a ballot," he told The Credit Union Journal.
DCCUL members will vote by mail ballot. In Maryland, there is a two-step process requiring CUs to first approve the new trade association's bylaws via mail ballot, then, as required by Maryland state law, the league's owners/affiliates must vote in a special membership meeting to be held July 28 from 10 to noon.
The league is setting up a way for member credit unions to call in their votes if they are unable to attend the meeting.