Missouri CU Commission Addresses Bankers' Appeal of FOM Expansion Decision for Five CUs

JEFFERSON CITY, Mo. – The Missouri Credit Union Commission took up two items at an open meeting held last week concerning field-of-membership expansion appeals filed by bankers that are in progress. At the standard commission meeting on April 13, attorneys announced their decision to consolidate the cases concerning Telcomm CU (formerly Springfield Telephone Employees CU), South Community CU, and Central Communications CU in Cole County Circuit Court. A status hearing on the cases is scheduled for May 24. Attorneys also announced their plan to ask the Court that the cases concerning Vantage CU (formerly Educational Employees CU) and City Utilities CU be stayed pending the outcome of the consolidated case involving the other three credit unions. According to Missouri Credit Union Systems’ Amy McClard, vp public/legislative affairs, it may be the end of 2004 before a decision is made in Cole County Circuit Court on the consolidated case.