SALT LAKE CITY -- Opposition to the move by the $186 million Beehive Credit Union to change to a mutual bank charter has begun to mount among some long term members who say that they distrust the motives of the CU'S leadership and want to see their credit union remain a CU.

The members have been with the credit union and many years and expressed reluctance to come forward since, as one explained there are a lot of connections between different business associates and family members, some of whom either support the conversion or work at the CU.

Nonetheless members say they agreed with a letter sent on October 8 by long time CU members Teri Dial and Lori Christian to the Office of Thrift Supervision, the federal agency which oversees federally chartered mutual savings banks and which will be Beehive's new regulator should the conversion go forward.

In their letter the Beehive members argued that OTS should not grant Beehive's conversion request because the agency's mandate is to create new banks only where they are needed and the area does not need new banks. A lawyer for the CU countered in a November 12 letter that the CUs existence in place proves that it is serving a need there.