Home About Attorneys Legal Services News & Events Contact Charter Conversions for Banks and Credit Unions We guide mutual and stock bank boards of directors and management through the charter conversion process, providing advice on both the regulatory application process and implementing effective strategies for obtaining the necessary regulatory and other approvals. Our representation involves reviewing with boards the advantages and disadvantages of the charter alternatives available to them. We also represent credit unions in their charter conversions, both to community credit union charters as well as savings bank charters. Each of these types of charter conversions presents unique regulatory challenges, particularly converting a credit union to a mutual savings bank charter. We work closely with the appropriate NCUA staff or state credit union regulator in determining the scope of approvable community credit union charters before we file applications. Once this is done, we oversee the filing of the charter conversion application, including the business plan, with the NCUA or state regulator, and monitor the application through the approval process. Converting a credit union to a mutual savings bank charter involves a fundamental change in the organization structure and operations of a credit union, and receives close scrutiny by both the NCUA and applicable state credit union regulatory bodies. The process of obtaining member approval of a credit union charter conversion under NCUA regulations is very time consuming and challenging, and counsel plays a key role in the strategic planning, applications and approval processes. We also work closely with our credit union clients in advising them on communications with the membership and other interested parties during the charter conversion process. Attorneys at Luse Gorman haves completed several charter conversions by state or federal credit unions to federal or state savings bank charters. Luse Gorman, PC 5335 Wisconsin Avenue, NW Suite 780 Washington, D.C. 20015 Phone: 202.274.2000

Home About Attorneys Legal Services News & Events Contact Attorneys Benjamin M. Azoff Partner 202.274.2010 Michael J. Brown Partner 202.274.2003 Scott A. Brown Partner 202.274.2013 Victor L. Cangelosi Partner 202.274.2028 Jeffrey M. Cardone Partner 202.274.2033 Elizabeth A. Cook Associate 202.274.2022 Joseph P. Daly Partner 202.274.2034 Zachary Davis Associate 202.274.2021 John J. Gorman Partner 202.274.2001 Thomas P. Hutton Partner 202.274.2027 Kent M. Krudys Partner 202.274.2019 Steven T. Lanter Partner 202.274.2004 Gary A. Lax Partner 202.274.2031 Marc P. Levy Partner 202.274.2009 Ned A. Quint Partner 202.274.2007 Brendan M. Saxon Associate 202.274.2020 Max Seltzer Partner 202.274.2038 Gregory Sobczak Partner 202.274.2026 Lawrence M.F. Spaccasi Partner 202.274.2037 Agata S. Troy Partner 202.274.2025 Kip A. Weissman Partner 202.274.2029 Beverly J. White Partner 202.274.2005 Paralegals Jeffrey S. Cass Kari L. Ritter jcass@luselaw.com kritter@luselaw.com 202.274.2016 202.274.2032 Luse Gorman, PC 5335 Wisconsin Avenue, NW Suite 780 Washington, D.C. 20015 Phone: 202.274.2000