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Former CU Turned Bank Going to Straight Stock

Just as one former credit union turned bank issues its first stock, another has announced that it will abandon its previous mutual holding structure to become a fully stock issuing institution.

By David Morrison | Updated on January 26, 2010

Just as one former credit union turned bank issues its first stock, another has announced that it will abandon its previous mutual holding structure to become a fully stock issuing institution.

Dallas based Viewpoint Bank (formerly Community Credit Union) initially adopted a mutual holding company structure when it converted from a credit union charter in 2005. Under a mutual holding company structure, the bank is owned by a holding company that issues less than 50% of the company’s available stock and is, in turn, controlled by the banks depositors in a mutual way.

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