Logo: Independent Community Bankers of America - ICBA The Nation's Voice for Community Banks (R)

Graphic: Arrow Forgot password?
Graphic: Arrow Request Login
Contact ICBA Site Map Search ICBA
ArrowICBA Home
ArrowAbout ICBA
ArrowAbout Community Banking
ArrowConsumer Education & Resources
ArrowIndustry Resources
ArrowMarketing Resources
ArrowMembership/Nat. Solutions Group
ArrowPress Room
ArrowSocial Media
ArrowMain Street Market®

Members Only = Access Restricted
Last update: 10/21/14

ICBA News Release Header


ICBA Commends Magistrate’s Decision in Texas Credit Union Case

Washington, D.C. (August 18, 2005) - The Independent Community Bankers of America (ICBA) applauded today the recommendation of the federal magistrate to issue a preliminary injunction requiring the National Credit Union Administration (NCUA) to validate the member vote of Community Credit Union (CCU) in Plano, Texas, to convert to a mutual savings bank.

"We are pleased that the magistrate supported the arguments made in the amicus brief filed by ICBA, America's Community Bankers and 33 state trade associations that NCUA's action to invalidate CCU's member vote in favor of conversion was arbitrary and capricious," said Camden R. Fine, president and CEO of ICBA. "ICBA supports the right of a financial institution to choose the type of charter under which it operates. This decision is a significant step towards ensuring the right of every credit union to choose the charter that will best serve its members and community."

The magistrate will be sending his findings and recommendations to the U.S. District Court Judge for the Eastern District of Texas.

ArrowsPrintable version

Button: Share

All contents copyright 2014 Independent Community Bankers of America. All rights reserved.
Privacy Statement | Legal Notice