Beehive Credit Union has proposed converting our credit union into a bank. We believe that this conversion is not in the interests of the members. We are concerned that:
- The Board of Directors and Executives may have a conflict of interest in recommending this conversion.
- Most studies show that we will likely be charged worse rates and fees.
- We could lose our $16 million of member-ownership without fair compensation.
- We will lose our democratic one-member-one-vote rights.
- Many of Beehive's reasons about why we should convert Beehive to a bank may be misleading.
Beehive credit union can serve us best by remaining a credit union