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Wednesday, June 28, 2006
7:00 - 9:00 p.m.
Vancouver Housing Authority
(in the Community Room)
2500 NE Main (at 4th Plain)
Vancouver, WA 98663
(park & enter on south side)
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Read Articles and Clippings
The following SaveCCU members have been nominated for CCU Board positions:
Lloyd Marbet (currently Chair of CCU's Supervisory Committee)
Doug Schafer (attorney for SaveCCU)
Doug Schafer requested that the following be posted on the SaveCCU Website:
June 7 Letter from CCU Nominating Committee Chair
June 13 Response to Nominating Committee Chair
June 15 Response to Nominating Committee Chair
Candidate Night
SaveCCU plans to host a candidate night that offers members an opportunity to learn more about candidate views (all candidates will be invited to participate), since the 2006 CCU Voters Pamphlet will not provide Candidate Statements:
Read our help wanted ad, related correspondence, and Vote rules anger credit union group by The Columbian.
Want to Help?
Financial contributions supporting SaveCCU's efforts are greatly appreciated... to make a donation, click here.
SaveCCU's Appeal
Signers of the Declaration of Independence
Reason for Appeal is to Protect Member Rights SaveCCU is seeking to reverse a court ruling that denies credit union member access to credit union governance documents and information related to the failed conversion of Columbia Credit Union into a bank. We are also appealing the ruling that CCU Directors have no fiduciary duty to credit union members. If you desire further information call 360-750-7228.

8-23-2005 Update

Respondents Brief  |  SaveCCU Reply Brief

The Latest on The Appeal
The Court of Appeals rules permit parties to bring to the attention of the appellate judges relevant additional authorities even after the time for filing briefs is past and even after the judges have heard the oral arguments. SaveCCU's attorney, Doug Schafer, has offered the court a Statement of Additional Authorities that includes an NCUA legal opinion letter issued February 6, 2006, as well as material contained in a 65-page report published in September, 2005 by the American Association of Credit Union Leagues.
Statement of Additional Authorities
Download the 65-Page AACUL Report
DFCU Conversion Proposal

Credit Union to Bank conversion and member rights issues are front and center at this time because of DFCU Financial's attempt to convert to a mutual thrift. The DFCU conversion proposal (recommended unanimously by the DFCU Board) was withdrawn by DFCU Financial in the wake of opposition, organized by a member group called DFCU Owners United. Visit to follow the situation that continues to unfold (DFCU Financial has informed its members that it will not allow a special meeting, called by member petition, to recall its board.)

Resignations From SaveCCU

CCU Volunteers who have resigned their membership in SaveCCU:

John Bucholz (recently appointed to the Supervisory Committee)
Duane Bequette (Board of Directors)
John Cheek (Board of Directors and Supervisory Committee)
Steve Straub (Board of Directors)
Continued Membership in SaveCCU

CCU Volunteers who continue as members of SaveCCU:

Cathryn Chudy (Board of Directors)
Kathryn Edgecomb (Board of Directors)
Ralph Erdmann (Board of Directors)
Emmy Winterburn (Board of Directors)
Lloyd Marbet (Supervisory Committee)
Bob Winterburn (Supervisory Committee)
Gene Yarnell (Supervisory Committee)
NCUA Oversight of Credit Union Conversions Challenged

In January of 2005 the NCUA updated its rules to require increased disclosure requirements for federal credit unions that seek to convert to a thrift charter. The purpose of the change in rules was to insure that credit union members would be fully informed when they undertook a vote on a conversion to a mutual savings bank.

HR 3206, entitled the Credit Union Charter Choice Act, was introduced in Congress by Rep.'s McHenry (R-NC) and Towns (D-NY) on July 12, 2005, and has been referred to the House Financial Services Committee. This bill would change NCUA's oversight of the voting methods and procedures regarding such conversions... the commercial law banking industry is lobbying heavily in favor of the passage of this bill, which constitutes a measure that would, according to the Credit Union National Association (CUNA) "...make it easier for credit unions to convert to bank charters..."

What credit union members can do is become informed about this measure (start with the link below). Then contact
your representatives to weigh in on this critical and pending legislation. The text of the bill is at the conclusion of the article linked below. The sticker to the left provides help in contacting your representatives.

The Subcommittee on Financial Institutions and Consumer Credit, chaired by Rep. Spencer Bachus (AL), held a legislative hearing on H.R. 3206, the Credit Union Charter Choice Act, on May 11, 2006.

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