GET THE FACTS ON CREDIT UNION CONVERSION

If your credit union has proposed becoming a bank, your ownership and good interest rates may be at risk. Credit unions are owned by their customers, called member-owners. Converting to a bank is rarely in the best interest of member-owners like you.

Fortunately, the decision is up to you. Credit unions are run democratically, on a one-member-one-vote basis. The member-owners decide on these proposals in an election. This website provides information for you to consider before you vote.


CREDIT UNION ASSET RAIDING

Credit union-to-bank conversions may allow management and investors to buy the credit union without paying you, the owner, and then sell it for personal gain. Like other not-for-profits, credit unions exist only to benefit their communities, not to enrich a few individuals.