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Hearing Leaves DFCU Petition Situation Up in the Air

On Oct. 12, a Michigan state court heard the first arguments in whether the $1.7 billion DFCU Financial would have to finally hold the special meeting at which members could recall one or all members of the board.

By David Morrison | Updated on October 24, 2006

DEARBORN, Mich. — On Oct. 12, a Michigan state court heard the first arguments in whether the $1.7 billion DFCU Financial would have to finally hold the special meeting at which members could recall one or all members of the board.

But rather than clarifying the dispute, which stemmed from the credit union’s attempt to change its charter to a mutual bank earlier this year and the withdrawal of its application, little was decided.

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