By DAVID MORRISON Credit Union Times Staff Reporter
ALEXANDRIA, Va. — The NCUA Board approved the final form of its latest revision to its rules governing the conversion of credit union to bank charters at its Dec. 14 meeting, after making relatively few changes from the language the agency proposed in June.
"We want it to be perfectly clear that the NCUA wants to foster communication between a credit union and its members in the conversion process," said Board Chairman JoAnn Johnson, after reporting that the agency had been stung by criticism from credit union members and converting credit unions that its regulations precluded those credit unions from communicating with their members without prior NCUA approval.
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