Our Board of Directors and Management team, after careful review and consideration, have determined that it would be in the best interest of Interstate and its members to convert to a state-chartered credit union. Listed here are some of the advantages:

• Prepare the credit union for continued growth
• Enable consumers who would not otherwise be served by a credit union in their community to join and benefit from Interstate’s products and

Research and discussions have been underway for several years in preparation for this potential conversion.

Management traveled to Atlanta this past January and spoke with officials to review and discuss this possibility with the Georgia Department of Banking and Finance. Our application for consideration was submitted to the National Credit Union Administration earlier this year and we have now received the approval to proceed with the election process with our membership. Because we are unsure how long social-distancing measures will be in affect, conducting a virtual meeting seems to be our best option at this point in time.  A virtual meeting, along with online voting, will also allow for more member participation than conducting a traditional meeting in one of our branch locations.

Changing to a state-chartered credit union will have NO impact on any of our member accounts, investments, or loans.  We will continue to operate with no interruptions to our services.

Yes, all deposits up to $250,000 will continue to be federally insured by the National Credit Union Administration.

Yes, the proposed conversion would result in the following costs of conversion (i.e. changing the credit union’s name, examination and operating fees, attorney and consulting fees, tax liability, etc.):

• Approximately $20,000

Yes, the credit union’s legal name will change from Interstate Unlimited Federal Credit Union to Interstate Credit Union.  Interstate Credit Union is currently the credit union’s trade name.

Interstate Unlimited FCU is a member-owned, not-for-profit financial institution. This means that each member will have a vote on the issue of the state charter conversion proposal, and will be decided on by the majority of voting members.

After the vote, the Georgia Department of Banking and Finance and the National Credit Union Administration will issue their final approval or denial.  Once received, the credit union will update membership via Facebook and our website.

A letter of explanation along with a ballot and postage-paid return envelope was mailed to every one of our members, ages 18 and older, to the address that we have on file.  As specified in the letter, the ballot is to be received by Interstate Unlimited FCU, by the date of the Special Called Meeting on July 27, 2020. As an alternative, members may vote electronically by clicking on the VOTE NOW button below or by accessing the QR code below. Electronic voting will only be open for the duration of the virtual meeting. You may only vote once, either by paper ballot or electronically. Duplicate votes will be disqualified.

To cast your vote electronically you will need to enter your member number.  This can be found in the upper right-hand corner of your account statement.  You will further need to authenticate yourself by entering the last four (4) digits of your, the primary account holder, social security number and email address.

You may join the meeting by going to https://global.gotomeeting.com/join/786115541 from your computer, tablet, or smartphone.  You can also dial in using your phone by calling +1 (872) 240-3311 .  

Access Code:  786-115-541