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Throughout the past 10 years, many vendors and CUSOs have witnessed credit unions convert from SEG-based charters to community-charters. This change involves adjustments for both the vendors and CUSOs. And for the credit unions themselves.

“There are significant pros and cons to the charter-change question that need to be heavily weighed by credit union executives and boards,” said Lisa Renner, CEO of CU Holding Co. LLC in Lenexa, Kan. “Just because you change the charter, it does not mean they will come.”

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