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Petition Push to Recall Board Members In Full Swing at Lafayette

Members of Lafayette Federal Credit Union fighting the $332 million CU's proposed charter change to a mutual bank collected signatures on a petition requesting a special meeting at which board members could be recalled at its Cabin John branch last week.

By David Morrison | Updated on November 14, 2006

KENSINGTON, Md. — Members of Lafayette Federal Credit Union fighting the $332 million CU’s proposed charter change to a mutual bank collected signatures on a petition requesting a special meeting at which board members could be recalled at its Cabin John branch last week.

The members launched their petition drive after they said the CU leadership declined to be forthcoming and transparent about its motives and the paperwork associated with the charter change. The CU has countered that it has offered to let members see the documents, but only after they signed a nondisclosure agreement.

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