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Missouri CU Commission reaffirms decision for CU FOM challenges

JEFFERSON CITY, Mo. - The state Credit Union Commission at a meeting Aug. 9 issued a written decision supporting its May 24 rejection of an appeal filed by the Missouri Bankers Commission on a ruling by the director of the state Department of Credit Unions granting a 3,000-member expansion exemption...

By Staff Writer | Updated on August 21, 2001

JEFFERSON CITY, Mo. – The state Credit Union Commission at a meeting Aug. 9 issued a written decision supporting its May 24 rejection of an appeal filed by the Missouri Bankers Commission on a ruling by the director of the state Department of Credit Unions granting a 3,000-member expansion exemption to Springfield Telephone Employees CU and allowing the CU to expand its fields-of-membership to include large communities. Also at the Aug. 9 meeting, the commission rejected the MBA’s appeal of field-of-membership expansion approvals granted the director to Central Communications CU and South Community CU for exemption from the 3,000-member FOM expansion limit. The bankers have 30 days from when the ruling is made public to appeal the commission’s ruling concerning Central Communications and South Community credit unions to the circuit court.

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