Group To Study CUConversions

WASHINGTON - (04/07/05) -- The American Association of CULeagues said Wednesday it has created a task force that it sayswill examine and develop strategies for dealing with the issue ofcredit union conversions to mutual savings banks. The AACULCooperative Business Model Task Force, is the latest of a number ofgroups formed to study the increasing size of credit unionconversions and comes on the heels of a task force formed by theTexas CU League. Susan Newton, executive director of the AACUL,said the task force will not be taking a position on theconversions. Instead, it will assemble a "library of information"related to conversions to help leagues, especially those thathaven't faced conversions among credit union in their states, toadopt a policy ahead of any future conversion attempt. According toAACUL, the task force will focus on four areas, includingdeveloping strategies to shed light on what conversions mean forthe dilution of member influence and economic interest in theircredit union, and identifying a range of options for leagues toimplement during all stages of a conversion process.