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Article: RULING CURBS COMBINING OF CREDIT UNIONS : FEDERALLY CHARTERED GROUPS MUST SHARE BOND, JUDGE SAYS.(BUSINESS)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- November 2, 1996
CopyrightCOPYRIGHT 1996 Daily 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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Byline: Deborah Adamson Daily News Staff Writer
Excited about your new job? It's too bad you might not be eligible for the company credit union.
This week, several federally chartered credit unions quietly began turning away new customers after a federal judge in Washington, D.C., issued an injunction against multicompany institutions.
The ruling prohibits federal credit unions that represent many firms from accepting prospective members who don't belong to the original group.
``We're disappointed,'' said Tammy Tagami-Reeves, vice president of marketing at Lockheed Federal Credit Union in Burbank, one of the state's largest credit ...