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Letter: CUs Have an Obligation to Consider Charter Change

There would appear to be disproportionate anguish in some credit union circles about the recent announcement that Technology Credit Union is considering changing its charter to that of a mutual savings bank.

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There would appear to be disproportionate anguish in some credit union circles about the recent announcement that Technology Credit Union is considering changing its charter to that of a mutual savings bank. 

On its website the credit union has responsibly communicated to its owner-members why the structural change is being considered as well as the potential pros and cons. The general membership has been invited to the discussion table early-on, and the highly supervised process leading up to a membership vote on the required transparent conversion plan has just begun. Technology Credit Union deserves to have the industry’s support during this important decision-making process.

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