Beacon Federal Credit Union, East Syracuse, N.Y., is trying to convert to a federal mutual thrift charter.
The $134 million-asset credit union applied to the Office of Thrift Supervision on March 13.
Its application said the charter would let it keep growing and would provide "the flexibility and opportunity to offer its products and services to a wider spectrum of customers and markets."
Three other credit unions await OTS approval to switch charters. The regulator has approved four other conversions, but only BUCS Federal Savings Bank, Owings Mills, Md., has completed the switch.