A tiny New Hampshire credit union is applying today for a mutual savings bank charter to escape regulatory disapproval of its emphasis on home loans.

Awane Credit Union has about $10 million of assets and is based in Peterborough. It wants to convert because the National Credit Union Administration frowns upon the high concentration of mortgages in its loan portfolio, said James Fleischer, a partner in the Washington law firm Silver, Freedman & Taff. The firm is handling the credit union's conversion application.

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