About 55 credit unions in Utah have state charters. Fifteen credit unions have abandoned their state charters for federal charters since 1999, when the last sweeping law change to state credit union charters occurred, Simpson said.

While the Utah Bankers Association does not support the changes for credit unions, it has promised as part of the compromise to not oppose the bill, association president Howard Headlee said.

"I think everyone knows the dispute centers on the actions of a few of the largest credit unions that are operating just like banks," Headlee said. "We have always been willing to work with those credit unions that remain true to their mission, and this year's no different."

The Utah Bankers Association wants Congress to address the bank-credit union dispute.

"It would be a waste of everyone's time to have a huge battle — whether it be an initiative or a battle with the Legislature — on this issue," he said.

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E-mail: lhancock@desnews.com