The Office of Thrift Supervision gave an Ohio-based credit union permission on Dec. 4 to convert to a federal mutual thrift.
Members of Columbus-based Ohio Central Federal Credit Union are expected to vote in the first quarter on the conversion. It still must be approved by the National Credit Union Administration and the FDIC.
Ohio Central, with $19 million of assets, filed its request in response to an October 1996 court order barring occupation-based credit unions from adding new companies to their fields of membership. The Supreme Court is expected to rule shortly on credit union membership practices.
Seven other credit unions have conversion requests pending before federal regulators.