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Vermont Regulator and VSECU Settle Over Use of the B-Word

Settlement allows for form of the word.

By Heather Anderson | Updated on October 08, 2012

The verdict arising out of the showdown between the $600 million Vermont State Employees Credit Union and its state regulator over use of the word “bank” in advertising was reached Oct. 5, and it leans in the credit union’s favor.

According to a joint release from the two parties, the Montpelier-based credit union cannot describe itself as a bank, but may use the word “banking” and similar words when advertising its services, as long as it discloses that it is a credit union.

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