CRANSTON, R.I.– If Coastway Credit Union members approve itschange to a state chartered mutual bank, sources familiar with theCU say that would cap Coastway's long standing policy of going itsown way.

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According to its filings with NCUA, Coastway does not belong toany CUSO's nor participate in shared branching. The $310 millioncredit union participates in the SUM network, an ATM networkadministered as part of the NYCE ATM network which providessurcharge free ATM access.

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Rob Kimmett, senior vice president with the Credit UnionAssociation of Rhode Island, reported that Coastway has notaffiliated with the Association “in recent memory.”

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As the first step in its charter change process, the CU hasinvited comments from members about its potential move. Membershave until August 20 to comment to the CU and Coastway will have toinclude the comment letters with its conversion application,according to Michael Marques, Director of the Department ofBusiness Regulation, Rhode Island's banking regulator.

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If there are a number of letters opposing the move and the CUcontinues in its course, Marques said his Department has theauthority to hold a public hearing to air issues around theconversion.

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