To Become a Bank, CU to Vote Out Members

http://www.columbian.com/business/businessNews/11142006news76358.cfm

Tuesday, November 14, 2006,
By JONATHAN NELSON Columbian staff writer, Clark COunty, Washington

Columbia Credit Union's voting membership will decide at a special meeting Wednesday if three members should be expelled from the financial institution.

The special meeting starts at 5 p.m. at Skyview High School, 1300 N.W. 139th St.

It is the second such gathering held this year by one of the state's largest credit unions, and keeps alive animosities between Columbia's leadership and a contingent of members who united in 2003 to block the credit union's conversion to a bank. The group has persisted since that victory to push Columbia, through lawsuits and election maneuvers, for open governance for its 62,000 members. The credit union has assets of $725.6 million.

Columbia executives deny they've done anything to stifle membership involvement and say the Save Columbia Credit Union group is damaging the organization's public image.

At the meeting, voters will be asked whether to expel Cathryn Chudy and Kathryn Edgecomb, who are both on Columbia's board of directors, and Lloyd Marbet, who is on the supervisory committee. All three are part of the Save Columbia Credit Union group.

Columbia's board majority had kicked the three out, but a judge ordered their reinstatement.

Columbia has launched a new marketing campaign, "Enough is Enough," in preparation for Wednesday's meeting. Columbia employees are wearing badges and campaigning in branches to jettison Chudy, Edgecomb and Marbet.

 

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