Wednesday, July 18, 2012

Opposition to Technology Credit Union's Conversion

Credit Union Times is reporting that Carlos Rodriguez has launched a Facebook page in opposition to Technology CU’s conversion to a mutual bank charter.

In addition, Rodriguez has notified the credit union that he is asserting his right under the NCUA's charter conversion procedures to have the credit union email his objections to the proposed conversion to other members.

The article states that Rodriguez joined Technology CU in April and identifies Rodriguez, as an entrepreneur and former credit union employee. The article notes that Rodriguez joined Technology CU because he wanted to do business with a credit union in San Jose, where he was starting a new firm. But he did not open a business account at the credit union, when informed that Technology CU was switching to a mutual savings bank charter.

So, who is Carlos Rodriguez?

Although the Facebook page that he created did not provide any info about him and he hid his image with a broken heart, when I googled "Carlos Rodriguez and San Jose and Credit Union," I came across a Linked In page for a Carlos Rodriguez, who describes himself as a credit union advocate.

His Linked In page says that he worked for four credit unions -- Santa Cruz Community Credit Union, Camino Federal Credit Union, Eagle Community Credit Union, and Water and Power Community Credit Union -- in various marketing positions.

Rodriguez's Linked In page also says he is the publisher of CU Planet.

Interestingly, the CU Planet website says that he lives in Southern California, not the Bay Area. However, he previously lived in Santa Cruz County, which allowed him to join Technology CU.

So, we have a credit union advocate joining a credit union in April that was in the middle of process of converting to a mutual savings bank.

Something does not smell right about the timing of his joining of Technology Credit Union.


  1. As a long-time member of Technology Credit Union, I'm perfectly happy to have Rodriguez lead this fight, regardless of your questions about his bona fides. The smell that's reaching your nostrils may actually be emanating from the boardroom at TecCU.

  2. Better questions might be why Tech CU is abandoning its members, why it has no mention of this conversion on its web site, and how much more fees will increase after the switch.

  3. For more articles, check out CU Times and search on Tech. This is the link to all the stories:

    Does anyone realize that Barbara Kamm (10-year veteran of Silicon Valley Bank) holds the following positions at Tech CU?
    Member of Employee Pension Committee

    Many of the recent and new hires came from commercial banking, most from Silicon Valley Bank. Aside from the dirty tricks they've been pulling with mandated opposition e-mails, they can change from a Mutual Savings Bank (federal, which is what we're voting on now) to become a STOCK-ISSUING BANK WITHOUT A VOTE if the MSB is acquired by an existing bank. We have witnesses to meetings between local banks and TCU's leadership. Our $1.6 billion equity goes away; our co-op's "leadership" profits enormously ($750k min to $5-10 million), and our credit union is gone forever.

    This isn't the "We-Don't-Know-From-Nuthin" Credit Union. No one is fooled. These people are gambling their reputations in hope of a big payout. I wonder what a form 380 will look like with felonies on it?



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