The following piece was submitted by former Bucs FCU CEO and current Bucs Federal Bank CEO Herb Moltzan. In the controversy surrounding charter conversions, Moltzan said he wanted to put some reality behind the situation by giving a first-hand account of his real-life conversion experience. It’s worth noting however that Moltzan’s CU was one of the early converts, and back when it converted the main problem wasn’t capital – which many converting CUs today say is why they are moving to a bank charter – but instead field of membership. BUCS primary sponsor was drying up, and Moltzan said the CU was nervous about future growth. Credit Union Times encourages readers to share your views on Moltzan’s first-hand account by e-mailing comments to [email protected].

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.