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Article: Vancouver, Wash.-Based Columbia Credit Union to Become State-Chartered Bank.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 5, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jonathan Nelson, The Columbian, Vancouver, Wash. Knight Ridder/Tribune Business News
Nov. 5--Columbia Credit Union's members have approved the conversion of the financial institution to a state-chartered mutual bank. The margin of victory is thought to be nationally the lowest ever for such a vote.
Of 50,800 eligible voters, only 9,228 voted. According to the totals announced at Monday's shareholders' meeting, 4,821 ballots favored the conversion and 4,407 opposed it.
A simple majority of voting members was needed and Columbia barely got that, with 52.2 percent in favor. Nationally, the closest previous vote was 66 percent, according ...