Group happy with delay

On a chilly Saturday morning, a handful of people stood in a parking lot next to First Basin Credit Union, 2740 N. County Road.

The five, all members of the credit union, were present to talk about their “win” over the plan to convert the credit union into a bank.

“We won,” Letty Moreno, co-founder of Save First Basin said. “This is a big victory for us; the fight’s not over of course.”

First Basin Credit Union Chief Executive Officer Shem Culpepper sent a letter to members announcing the vote on the conversion attempt had been suspended.

“I’m glad they decided to suspend it,” Tammy Armstrong said. “Credit Unions are for the common people. I feel that this is a step in the right direction.”

Armstrong is a member of the credit union and president of the Permian Basin Chapter of Credit Unions.

In an interview with the Odessa American Friday, Culpepper said the suspension came after credit union management learned members received phone calls telling them that if they voted in favor of the conversion, they could lose their deposited money.

Culpepper said he was concerned that member information had been improperly disseminated and that the suspension came on the heels of the concern for members’ privacy.

“It’s ridiculous,” Moreno said. “How can you stand there and say that somebody possibly stole information. What does that say about your organization?”

Members at the rally said the credit union’s board still has plans for a conversion, but they see the suspension as a small victory.

“This is not the Soviet Union,” credit union member Sylvia Acosta said. “They cannot simply shut down the election if they are not getting the results they want.”