A 2011 opinion letter says state chartered credit unions could convert through a purchase and assumption transaction.
Those who help credit unions turn into banks say business is picking up.
Credit union trade associations make two fresh moves on Capitol Hill.
Since 2010, bank branches have decreased in the suburbs while increasing in city centers.
The $399M credit union could potentially gain 600 new members and about $12M in deposits.
Members will cast their vote Monday on whether to convert the $1.8 billion HarborOne CU in Brockton, Mass., to a mutual co-operative bank charter.
Retired engineer Bob Marinace was a co-founder of the group that led the successful effort to stop Technology Credit Union's bank charter move.
An Oct. 5 settlement arising out of the showdown between the $600 million Vermont State Employees Credit Union and its state regulator over use of the word “bank” in advertising leans in the credit union’s favor.
When it comes to auto loan portfolio acquisitions, some might see credit unions as the equivalent of little fish being circled in waters full of sharks–banks and other lenders.
The Vermont showdown over whether a Montpelier credit union can keep on using “bank” and “banking” in its advertising appears headed a for a lengthy legal slog and perhaps compromise following the start of hearings last week by the state regulatory agency.