Kern Schools Federal Credit Union in Bakersfield, Calif., has applied to convert to a state charter.
The $1.7 billion-asset institution would change its name to Kern Schools Credit Union, according to the California Department of Business Oversight. The application was filed in August.
Dozens of credit unions have converted from federal charters to state ones since 2012. Through midyear,
However, since 2016,
Kern earned $14 million through Sept. 30, up about 2% from the same period a year earlier, according to call report data.