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Maybe SECU CEO Jim Blaine and CU Financial Services CEO Alan Theriault were not surprised to learn that 33% of credit unions over $100 million in assets surveyed by Aite Group were planning a charter conversion to a mutual savings bank but I was floored. I understand times are tight but one-third actually planning a conversion compared to a few dozen completing them in the last decade is a huge jump.

Are credit unions using their inherent philosophy to its fullest potential? How can some credit unions thrive despite narrowing net interest margins and overall lagging membership growth while others feel the need to convert to a for-profit bank?

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