Members of the 70,000-member, $1.6 billion Technology Credit Union who organized themselves enough to prevent the San Jose, Calif., credit union from becoming a mutual bank are considering what their next steps, if any, should be.
"Our litigation is going forward," said Carlos Rodriguez, the Technology member who began the organization effort by launching a Facebook page to alert members of what he saw as the downsides of the conversion proposal. "And we are considering whether to launch an effort to recall some or all of the board members."
The conversion proposal failed last week by roughly a margin of 3-1 among the approximately 17,500 ballots cast, Tech CU announced.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.