Ugh, my favorite #CreditUnion in #Vermont has just proposed a bylaws amendment that would give the board the power to modify both the bylaws and the charter without ratification via member referendum. Which would remove a major #DeMutualization firewall.
Hopefully the campaign to reject the proposal can be more of a call-in than an antagonistic messy governance fight. But, regardless, I'd really rather not need to spend energy on this... 😞
#coops #coop #coopgovernance #creditunions #vt #demutualization #vermont #creditunion
Wanna help derail the #demutualization of #truevalue hardware? RT this: https://twitter.com/MattCropp/status/974783797236588553?s=19
#demutualization #truevalue #coop #coops #socialcoop
"#TrueValue found a #PrivateEquity firm to take a majority stake in the company on Thursday in a shift away from the hardware company’s cooperative structure. ... The Acon deal must earn the support of half of True Value’s member retailers in a vote at an upcoming special shareholder meeting on April 13. If it goes through, the deal is expected to close near April 18."
😡
https://www.bizjournals.com/chicago/news/2018/03/15/true-value-strikes-deal-with-private-equity-firm.html #demutualization #coop #coops #purchasingcoop
#truevalue #privateequity #demutualization #coop #coops #purchasingcoop
Interesting recent paper on #CreditUnion #demutualization dynamics: https://www.researchgate.net/publication/242341071_Credit_Unions_and_Demutualisation