BURLINGTON, Vt. (8/3/12)--A new board member of Burlington, Vt.-based Vermont FCU is a member of a group tied to an Occupy Vermont group.
Eric Davis of South Burlington, a member of a group called Vermont FCU Member's Assembly, was elected recently to a two-year term to the board, according to Vermont Public Radio (VPR News July 17).
Davis said that although he is extremely satisfied with his experience at the credit union, more opportunities exist to build the sense of shared ownership among members that can further differentiate the credit union cooperative from the traditional banking sector.
The members' assembly grew out of long-time Vermont FCU member Matt Cropp's work with the Occupy movement after he realized many people are unaware they have an ownership stake in a credit union and that confusion exists on what it means to be a credit union member, he said. Cropp also ran for board seat at the credit union but was defeated in the election.
The VFCU Member's Assembly has 25 to 30 members, Cropp told local media, and is negotiating with the credit union to resolve issues generated by the group's use of the credit union's name in relation to the Occupy movement.