Connect CU members oppose float

A group of disgruntled Connect Credit Union members is protesting the Tasmanian credit union's bid to list on the Australian Stock Exchange. Jeff Briscoe, the group's spokesman, claims that Connect is running a one-sided demutualisation campaign and that members should head both sides of the debate. Briscoe said there are very good reasons for keeping Connect Tasmanian-owned and operating as a mutual society but the credit union's directors are not publicising these. Connect's chairman Bob Gordon responded by saying the restructure is in the members' best interests.