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News Now

CU System
First Basin CU to hold elections
ODESSA, Texas (4/9/08)--First Basin CU has scheduled an annual meeting to hold elections for its next board of directors on Tuesday at 7 p.m. “With the amount of dissention and struggle that have gone on, I hope people get the message that it makes a difference to show up and vote,” said member Tom McKelvey. First Basin attempted to convert to a mutual savings bank earlier this year. However, the credit union decided to suspend its Feb. 21 vote on the proposed charter change. The vote was suspended for a “number of reasons,” wrote CEO Shem Culpepper in a letter to members (News Now March 6). He cited “false statements” that had circulated about the conversion. Some members of First Basin CU opposed the charter change and formed the group “Save First Basin,” headed by Letty Moreno. She told News Now (Feb. 29) that members who opposed the conversion had planned to run candidates in the election. Moreno said in a statement Monday that the members did not know which directors were running for re-election. A call to First Basin by News Now was not returned by press time.


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