WASHINGTON — The Office of Thrift Supervision, the federal regulator for mutual banks and thrifts, has received the application from the $1.2 billion Think Federal Credit Union to change its charter to that of a mutual bank.
OTS records indicate that the application was filed Oct. 13 and that a decision from the regulator will come by Jan. 11, 2007. Think sent a letter to its members announcing its board's decision to apply for the charter change on Sept. 27. Think has just over 97,000 members and was formerly the IBM Mid America Credit Union.
The CU currently serves IBM employees and their families in Minnesota, Iowa, North Dakota, South Dakota, Nebraska, Kansas, Missouri, Wisconsin, Illinois; and the counties of Lake, Porter, LaPorte and St. Joseph in Indiana, and the employees of 300 select employee groups
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