Since HR-1151 streamlined the process of converting to a bank charter, members have overwhelmingly supported the move, regulatory approvals have been swift, and the pioneering institutions have prospered. The voting process is simpler than converting to private insurance since only a simple majority of members voting need to approve of the move; and the NCUA board's approval is not required.
Advice from Stephen R Covey's book: "First Things First" may apply for some facing the bank conversion decision: (1.) "Let go of paradigms that are popular and pleasing, but based on illusion". (2.) "Let go of extrinsic sources of security".