Merrimack Valley Credit Union has proposed to change its charter.

The organization has filed an application with the Massachusetts Division of Banks to convert from a federally-chartered credit union to a state-chartered credit union, according to a recent activity report from the DOB.

The move would change MVCU’s regulator from the National Credit Union Administration to the Massachusetts Division of Banks.

The application is the latest development for the credit union, which has been involved in a fair amount of news this year.

MVCU announced in March that it was planning to acquire Bridgewater Credit Union in a proposed merger that would have made the new entity one of the top 10 largest credit unions in the state by total assets.

The merger would have seen BCU President and CEO John J. Howard become the new entity’s president and CEO, while MVCU President and CEO Peter J. Matthews Jr. would have transitioned into an advisory role and retire after the merger.

But MVCU and BCU withdrew their application to merge in May.

MVCU had about $600 million in assets at the end of 2017, about 200 employees and branches in Lawrence, North Andover, Methuen, Haverhill, Plaistow, New Hampshire and Seabrook, New Hampshire.