SCOTTSDALE, Ariz. – When it comes to credit unions converting to a mutual savings bank, credit union chairmen attending the 28h Annual Chairmen's Roundtable Forum advise others to "just say no". Dubbed "Challenge 2004," the question of whether or not to convert to a mutual savings bank was debated during 15 separate roundtable discussion groups consisting of some 10 CU chairmen each. Sitting down with chairmen for leading credit unions across the county, each roundtable was presented with the following scenario: "An attorney specializing in charter conversions has just spoken to your credit union board about converting from a credit union to a mutual savings bank. You need to discuss and vote whether or not to recommend the conversion to your membership." The background information for the discussion was based on what each roundtable participant knew about this type of conversion based on everything from personal experience and conversations to news articles. Fifteen separate deliberations all responded against conversion with one group saying, "any perceived advantages, such as an influx of capital, were far outweighed by the negatives." "As in past years this session gave us the opportunity to debate an important question," said NACUC Chair/First Teachers FCU Chair Chuck Smith. "In most of our roundtables, we ended up discussing the importance of the credit union philosophy and how there would be no need to consider conversions if we were doing our job."