SALT LAKE CITY – Members of Beehive CU have approved the conversion of the $175 million credit union to mutual savings bank, the 54-year-old credit union announced last night.
The vote was 54% to 47%, with 7,9620 members, or 36% of the 22,000 eligible members taking part in the ballot.
Beehive is the first credit union in Utah to make the switch to bank.
The vote must still be ratified by NCUA.
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