Members of the $5.5 billion Suncoast Schools Federal CreditUnion in Tampa, Fla., were deciding this week whether to switchfrom a federal to state charter.

The 564,200 members were able to vote by mail, telephone, onlineor in person at a special meeting set for Thursday.

Becoming a state charter would broaden the credit union'smembership and expand its services, Suncoast said.

Only individuals working in public education or specificemployee groups in certain counties are currently able to join thecredit union as a federal charter.

“The membership options provided by the state charter willenable us to provide additional resources to improve our deliverysystems in the future, including branch and ATM expansion anddevelopment of new delivery channels. Members will also have moreoptions regarding products, services, and accessibility based uponimproved efficiency,” Suncoast said at its website.

“As a state-chartered credit union (and serving the most membersin Florida), Suncoast can more easily work directly with regulatorsand legislators to improve regulations and laws on behalf of allcredit union members,” the site also said.

The credit union said its name would change to Suncoast CreditUnion if the conversion is approved. Suncoast was originallychartered as the Hillsborough County Teachers Credit Union inJanuary 1934.

A sample of the form a federal credit union must submit to theNCUA when seeking state charter status is available here.