SALT LAKE CITY & ODESSA Texas -- NCUA's policy of requiring credit unions considering conversions to facilitate communication among members about the conversion appears to have fostered strong debate about the topic at two CUs currently thinking about making the change.
Member groups opposed to the conversion of the $187 million Beehive Credit Union in Salt Lake City and the $114 million First Basin Credit Union in Odessa, Texas show increases in activity on their Web sites and comments have begun to appear from members on stories in local media about the possible change.
The comments come from both sides of the question. A First Basin member who signed on as Chris wrote, "My family and I have all had our own accounts with First Basin since they were MCCU. I believe the conversion will be a good thing. With the conversion First basin will be able to provide us with way better products and services. I honestly believe the rates will not get worse. I believe they will stay the same. I mean think about it, First Basin has always been about taking care of the members and growing within the permian basin. Why would they even consider the conversion if it did little to benefit they're members?"
But another member, Nancy, wrote:
"My husband and I joined First Basin back when it was MCCU, because we prefer credit unions to banks. Thinking back, it seems to me that the name change was the first step in what our directors must have had in mind for a long time. Since we have joint accounts, and my husband's name appears first, I am not certain that I have a vote. Think I'll open a share account to make sure I can. And then we will both vote NO. But it's pretty simple for us: if change in charter goes through, then we will simply do business with another credit union. Know any good ones in Odessa?"
--dmorrison@cutimes.com
