TCU Charter Conversion

Dear Members,

We are pleased to announce the results of the charter change vote held on November 26th, 2024. Prior to the vote, all members received a notification and ballot two weeks in advance, with the option to return their ballots via mail, in a physical ballot box, or to attend the meeting and vote at that time. This initiative, part of our strategic plan to drive growth for the credit union, received 68% approval from the ballots cast.

With the majority of members in support of the conversion, the credit union will continue working with both the National Credit Union Administration (NCUA) and the State of Oregon to ensure a smooth transition effective January 1, 2025.

We would like to thank everyone who contacted us with questions and participated in the vote regarding this conversion. Those who attended the meeting actively engaged by asking questions that created a positive dialogue about the conversion. All questions and concerns addressed during the meeting resulted in a favorable outcome.

With the credit union’s current financial strength, this change will allow us to reach and offer our outstanding services to additional Teamster members and their families located in the Pacific Northwest.

Key Points:

• Transition: Our charter will move from the National Credit Union Administration (NCUA) to the Oregon Department of Consumer and Business Services (DCBS).
• Deposit Insurance: Your deposits will continue to be insured by the NCUA during and after this transition. Each credit union member has at least $250,000 in total coverage.
• Impact on Services: There will be no changes to your accounts, loans, or other services we provide.
• Impact on Fees: None. Members will not be assessed any fees related to this transition.

Thank you for your continued support. Please feel free to discuss and speak to your fellow Teamster members about the credit union and the services we provide.

Sincerely,

Steven Pickle
President, Board of Directors
Teamsters Council #37 FCU

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