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Two more credit unions set to unload federal charters.(Schools Federal Credit Union; Mather Federal Credit Union)
The area's third- and fourth-largest credit unions are giving up their federal charters to escape the risk of continuing lawsuits from the American Bankers Association.
Schools Federal Credit Union is seeking a state charter and asking its members to vote this month for conversion.
They'd be following close behind the former Mather Federal Credit Union, which became the Heritage Community Credit Union on March 1.
Banks "are just routinely suing" over rules about who can join credit unions, said Jim Jordan, chief executive of Schools Federal. "I wish they would just concentrate on charging their high fees and paying their low interest rates, and leave credit …
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