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News Now

CU System
Pa. Supreme Court to hear FOM case arguments April 16
HARRISBURG, Pa. (2/25/08)--The Pennsylvania Supreme Court announced it will hear oral arguments in an appeal involving the community charter of Belco Community CU on April 16 in Philadelphia, says the Pennsylvania Credit Union Association. The court had set the date to hear briefs and arguments, which focus on whether the Pennsylvania Department of Banking employed appropriate administrative procedures when it reviewed Belco's notice to operate as a community credit union (Life is a Highway Feb. 22). The appeal relates to a Nov. 13, 2006, decision by the Pennsylvania Commonwealth Court that the department did not follow procedural due process requirements when it did not conduct hearings or make records available to banking interest groups. "We look forward to the opportunity to persuade the Supreme Court that the Department of Banking handled the Belco matter in a manner consistent with the Credit Union Code and Pennsylvania's Administrative Agency Law," said Rick Wargo, PCUA executive vice president and general counsel. Belco Community CU is a $278 million asset credit union based in Harrisburg. The Department of Banking granted it a community charter to serve seven counties in central Pennsylvania. During the course of the appeal, it can operate under its community charter (News Now May 4, 2007).


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