The Issues

First Basin’s board and executives have proposed converting our credit union into a bank. We believe that this conversion is bad for members and that the boards reasons don’t add add up. Here’s why we oppose the conversion:

	The directors and executives may have a conflict of interest in recommending this conversion.
	The board is not telling the whole story. The real story is that conversion is bad for members.
	Available evidence shows that we will likely pay worse rates and fees.
	We could lose more than $11 million of member-ownership without fair compensation.
	We will lose control of our democratically-owned credit union.