TALLAHASSEE, Fla. — The $137 million Sunshine State Credit Union will pay $327,100 in another bid to become a mutual savings bank, according to ballots and disclosure documents the CU has sent to its members.

The CU first tried to change charters in 2003, but withdrew the application after it became clear the Office of Thrift Supervision had concerns about it. The OTS never disclosed precisely what those concerns were. Now the CU is trying again. According to the Oct. 11 package, Sunshine also announced that it planned on adopting a mutual holding company structure and issuing stock.

Significantly, the CU is still stating the need to build branches as one reason that it needs to change charters, but has also joined the Credit Union Service Center shared branch network which gives Sunshine members more branches around the country than Sunshine would be able to provide were it to become a bank.