Charter Conversion Bill Advances in Virginia

Credit Union Journal Daily Briefing  |  Thursday, February 18, 2010
RICHMOND, Va. – A charter conversion bill that would allow state-chartered credit unions to convert to mutual savings banks in the same way federal charters can appears well on its way to passage.

The bill, which originally was crafted to allow banks to acquire credit unions and vice versa, was approved by the state Senate. The House already passed an identical bill. The two chambers must vote on the legislation one more time.