Let all SAFE members truly decide!
😎 Did you know that the infestation of blog trolls is not unique to North Carolina? Even California suffers from that vulgar plague!
Those California stinkards are staunchly calling for DFPI to do its duty and let SAFE CU members vote on the merger-giveaway to Boeing Employees Credit Union in Washington State. They righteously call for democratic cooperative principles to be enforced by DFPI on this vote.
"Fair is fair, justice is justice, the rule of law must be followed! "
✅ "Pursuant to Financial Code §§ 15200 and 15201, the following general requirements must be met in order to complete a merger. "[link]
✔ "1. Commissioner approval: The merger must be approved by the Commissioner."
✔ "2. Board of Directors approval: The merger must be approved by a majority of the board of directors of each of the credit unions that is a party to the merger ("constituent credit unions"), "
✔ "3. Membership approval: a. Approval by majority of members:
✷✷ "A Plan of Merger must be approved by a majority of all the members of a disappearing credit union, by vote or written consent. "
"Notice of the meeting must be given to all members entitled to vote on the merger, either personally or by first-class mail, not less than 30 nor more than 90 days prior to the date of the meeting. No membership approval is required of a state-chartered credit union that is the surviving credit union in a merger. "
✅ Yes, DFPI should follow explicitly the requirement of California law and let freedom and democracy shine for the members of SAFE Credit Union, the citizens of Sacramento, and the people of California!
😎 If 122,501 of the 245,000 members of SAFE CU vote to approve the merger, then both cooperative and democratic principles will have prevailed in California!
You forgot to mention the part about the commissioner approval in the event they don’t get a majority vote. They likely won’t get that high of turnout. So are you opposed to the member vote? Do you seriously think the state shouldn’t approve this merger and that have valid reasons not to that are within their scope and role? They’re not going to deny the merger because the name will change and HQ goes away.
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