Eastman Savings and Loan Association, Rochester, N.Y., expects to get the government's go-ahead to convert to a credit union next month.
The National Credit Union Administration's Northeast regional office should be finished reviewing the thrift's application in May, according to Bob Loftus, the regulatory agency's director of public and congressional affairs.
The $1 billion-asset mutual thrift announced its intention to convert to a credit union charter last year and filed the application in February. Eastman wants to make the switch because it is no longer exempt from a state law that requires deposit insurance.
The institution already functions much like a credit union because it serves only Eastman Kodak employees and retirees, and their family members.