TCU charter conversion and what you need to know. Click here to read more.

TCU Charter Conversion

Dear Members,

I am pleased to announce an exciting development for Teamsters Council #37 FCU. After thorough deliberation and strategic planning, our Board of Directors has decided to convert our charter from a federal charter regulated by the National Credit Union Administration (NCUA) to a state charter regulated by the Oregon Department of Consumer and Business Services (DCBS).

This decision is driven by our commitment to better serve you and the locals affiliated with Teamster Joint Council #37. Here are some of the key benefits of this conversion:

  • Enhanced Flexibility: A state charter will allow us to tailor our products and services more effectively to meet the unique needs of our members and the local community.
  • Local Oversight: Being regulated by the Oregon DCBS means we will benefit from more localized oversight, which can lead to more responsive and efficient regulatory processes.
  • Improved Services: The conversion will enable us to expand our service offerings and enhance our technological capabilities, ensuring that we continue to provide you with the best possible banking experience.

Please be assured that this conversion will not affect your accounts, loans, or any other services you currently receive from us. Your deposits will continue to be insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).

We are committed to making this transition as smooth as possible and will keep you informed throughout the process. If you have any questions or concerns, please do not hesitate to contact us at (Supervisory Committee Email). You will receive a ballot to vote in the mail and are invited to attend a special meeting called November 26th, 2024, at 5:30pm.

Joe Edgar Hall
1850 NE 162nd Avenue
Portland, OR 97230

Thank you for your continued trust and support. We look forward to serving you under our new state charter and continuing to help you achieve your financial goals.

Sincerely,

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

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