Sun Shines Again on Florida CU Conversion to Bank

TALLAHASSEE, Fla. - (1-11-2007) – Sunshine State CU said its members approved the switch of the $170 million credit union to a bank–for the second time. The credit union announced that 58% of the 4,078 members voting approved the switch. Voting members amounted to 24% of all eligible voters. Members approved the switch more than two years ago, but the credit union was forced to withdraw its bid to convert to a mutual savings bank after an upheaval in management left it without a CEO and chief lending officer. (CU Journal)