LINCOLN, Neb. — Dual chartering has surfaced once again as a hot topic in Nebraska following the state-to-federal conversion last month of the $60 million 1st Choice CU of Lincoln becoming Peoples Choice FCU.

Management of the Lincoln CU said it decided on the switch to a federal charter based on various cost factors and "seeing there could be a savings for us," explained Dale Springer, president/CEO of Peoples.

Peoples became the second Nebraska CU since May to make the state-to-federal change leaving only 20 CUs under state regulation through the Nebraska Department of Banking and Finance, the supervising agency also for banks, mortgage firms, payday lenders and various other institutions.

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