UNIVERSITY FEDERAL <UFSB> SEEKS STATE CHARTER
University Federal Savings Bank said
its board authorized the bank to apply to change its present
federal charter to a Washington state charter.
    The company said it also will seek to change its depositor
insurance coverage from the Federal Savings and Loan Insurance
Corp to the Federal Deposit Insurance Corp.
    Its board believes the broader banking powers available to
state-chartered institutions will better serve the long-term
objectives of the bank and will be in the best interest of
shareholders, University Federal also said.
 Reuter
