DFCU Financial CEO and Board Acting Against the Interest of Members

The effort of DFCU Financial’s CEO and Board to convert their credit union to a bank is not in the best interest of the members. The leadership has built up reserves, which belong to the members, and seemingly are not using those reserves for member benefit. Rather it seems those reserves are meant to raise the market value of the institution if it were a bank. This would reward the CEO and Board more than the members. In addition, not only would a conversion rob the members of their ownership of the credit union, it would deprive the movement of one its great credit unions. The conversion attempt should be defeated.




Jan. 1, 2006



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