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Vt. credit unions cleared to use 'banking' - WCAX.COM Local Vermont News, Weather and Sports-

Vt. credit unions cleared to use 'banking'

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MONTPELIER, Vt. -

It's no longer against the law for the Vermont State Employees Credit Union to say the word "banking."

The Department of Financial Regulation had told the credit union to stop saying "bank" and "banking" in its marketing. Vermont law says credit unions are not banks and using the term could be confusing for consumers.

But the credit union argued the word "banking" describes the transactions its clients do.

Now state regulators say "banking" is OK.

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Vt credit union fights to use the word banking

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