WASHINGTON — According to the Office of Thrift Supervision, no credit unions have applied to convert to a mutual bank charter since September of last year.

According to the OTS list, the last application for a credit union to convert to a federal thrift charter was from Beehive Credit Union, Salt Lake City, on Sept. 10, 2007. The agency has listed that a decision is required on the Beehive application by no later than July 30.

Alan Theriault, CEO of CU Financial Services, attributed the slow pace of applications to uncertain economic times and unauthorized interference from the NCUA in the credit union conversion process.

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