DENVER — NCUA's field of membership policies were stirring new talk last week about federal-to-state credit union conversions with Colorado's top CU regulator speaking out about CU concerns following the fed-to-state switch this month of a $120 million suburban Denver CU.
"Yes, we have heard some rumors about some other credit unions looking at conversions," said Chris Myklebust, the state's CU commissioner commenting on the switch to be completed late this month by Red Rocks FCU of Highlands Ranch.
Myklebust said discussion of conversions "and the scrutiny NCUA is giving to field of membership applications" was prominent at a July 25 meeting of NCUA's Region V in Portland, Ore. at which regulators from Western states were invited, a semi-annual rite.
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