BOSTON — A researcher with the Aite Group, a leading financial research firm, has clarified some of her firm's report that 33% of 101 credit unions surveyed were planning on converting their charters to mutual banks.

Research Director Christine Barry reported that some of the interviews with the 101 credit unions, which had been chosen at random from 1,200 credit unions with over $100 million in assets, had been conducted only through questionnaires while other CUs in the survey had been interviewed and the interviews had allowed more context to come through.

She reported that she had the sense that the high number of credit unions which reported planning charter changes indicated the number that had become aware of the issue and the possibility of making a change more than a number which had chosen to make the shift in the next 24 months.

“As credit unions begin to compete more with banks on bank terms it can be only natural that they look at the way their charters hamper them in that competition,” Barry said. She also said she regretted not having put a time frame, such as 24 months, on the question, adding that if the survey had done so it might have provide a clearer number of credit unions who were drawing closer to a conversion decision.