In December 2022, we asked you to vote to transition Envista’s charter from a state charter to a federal charter. We received an overwhelming response of 82.1% from our members to move forward as a federally chartered credit union.

How will this transition impact safety and soundness?

Envista has always been among the most highly rated of credit unions in regard to safety and soundness. Maintaining a well-managed and financially sound credit union is our primary responsibility to our members. In fact, our diligence in those efforts is a primary reason for this change. No matter how good we have been, no matter how good we are, we are always seeking ways to become better. We recognize that Envista has grown in size and complexity, offering more and better products, services and delivery systems to our members. Because of this, it is important for Envista to have additional resources and the expertise of NCUA as our regulator to make us even more secure and stronger.

Will this increase the involvement of the federal government?

The federal government has always been involved in governing and regulating credit unions. Credit unions exist because of the Federal Credit Union Act passed by Congress in 1934. The National Credit Union Administration (NCUA) is our insurer and insures our members’ accounts. Technically, since our conversion to a state charter in the late 1970s, our regulator has been the Kansas Department of Credit Unions, however, in its role as our insurer, NCUA has always been the dominant force in all credit union regulation and Envista has been required to comply with federal regulations in all but the most routine of administrative processes. 

With our growth over the last few years, Envista has reached a point where NCUA will now be involved in all Envista examination and regulatory processes. The transition to a federal charter simply recognizes that fact and improves the process and communication.

 How will the federal charter transition impact me?

The change will be virtually seamless for Envista members. The most significant difference will be operational in that Envista will transition to a single regulator, the National Credit Union Administration (NCUA).

The conversion will not affect the services you receive from Envista or your accounts, whether deposits or loans. NCUA will continue to provide Envista members with the same share insurance through the National Credit Union Share Insurance Fund (NCUSIF). And, of course, the Envista staff will always be ready to assist you in the same outstanding fashion that you’ve come to expect.

Thank you

Thank you for your commitment and support of Envista and our future. Thank you for supporting and trusting the leadership of the volunteer Board of Directors and management.