WASHINGTON-The flow of credit unions converting to mutuals is "alive and well," Office of Thrift Supervision Deputy Director Rick Riccobono told his audience at America's Community Bankers Government Affairs Conference. He told the bankers that they would probably see many smaller credit unions and a few larger ones make the leap to for-profit status in the future. Riccobono emphasized that credit unions, particularly federal charters, do have field of membership restrictions. Joining a credit union "is not as easy as everyone thinks," he said. Riccobono said from his personal experience, he was unable to get his father, a Korean War veteran, into Navy Federal Credit Union because he was Army. Riccobono stressed that the decision to convert to a mutual is a big one for a credit union because of the new up to 40% taxation they face. He added that Community Reinvestment Act requirements probably do not bother credit unions as much.