Converting To A State-Chartered Credit Union

From the Las Vegas Review-Journal

Nevada Federal Credit Union is converting to a state-chartered institution, a decision that if approved by its members will allow the credit union to serve 300,000 more potential members

It's interesting to see that state-chartered credit unions can expand their field of membership easier than federal-chartered ones.

One thing that wasn't noted in the article is that only state-chartered credit unions can convert from NCUA insurance to private ASI insurance. Nevada is one of the states that allow credit unions to only have private insurance from ASI. The credit union didn't state that it was planning this, but it does become an option.