BOSTON – One-third of credit unions surveyed for a new report from the Aite Group, a noted financial research firm, said they are planning on converting their institutions to mutual bank charters.

The research firm asked executives of 101 credit unions ranging in size from $100 million in assets to over $1 billion in assets if their institutions were planning a charter conversion. The firm reported that 33% of the executives responded in the affirmative.

A spokesman for Aite said that this was the only conversion question on the survey and that there were no follow up questions regarding things like timelines for making a conversion decision or reasons for seeking a conversion.