Community Credit Union Members Vote for Conversion

From Credit Union Times Online - 6/22/2005 - 08:50 AM

RICHARDSON, Texas - A (super) majority of the 36,000 votes cast through Tuesday afternoon approved of Community Credit Union's charter change from a Texas credit union to a federal mutual savings institution.

At the special called meeting of the membership Tuesday evening, credit union officials announced that 71% of the votes cast prior to the meeting supported Community Credit Union's conversion to a mutual savings bank, and 29% opposed the conversion.

The 36,000 votes cast represented 20% of the 177,000 primary members eligible to vote. Only members joining the credit union prior to Feb. 28, 2005 were eligible. Voting has concluded, but the final tally is still a day or two away, since the votes cast Tuesday evening must be certified. Totals are to be posted on the credit union's Web site.