The federal appeals court here has overturned a ruling that let an occupation-based credit union in Houston serve employees from more than one company.
The U.S. Court of Appeals for the District of Columbia Circuit said in a Dec. 5 order that it already decided in the so-called AT&T Family case that all members of occupation-based credit unions must share a single, common bond. It ordered the judge from the U.S. District Court for the District of Columbia to reconsider his decision allowing Communicators Federal Credit Union to serve seven groups of employees from unrelated companies.
"This is what we were expecting," Texas Bankers Association deputy general counsel Kelly Rodgers said of the appellate court ruling. "It is the same issue as in the AT&T case."
While the trial judge let Communicators Federal serve employees at seven unrelated companies, he denied a request to serve anyone in Houston over the age of 50.