Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Southwest Bridge Corporate council votes for merger
PLANO, Texas (12/3/10)--Southwest Bridge Corporate’s Member Advisory Council voted in favor of merging with Georgia Corporate FCU Tuesday. “Yes, the committee voted 86% in favor of the proposal,” Kerry Parker, chair of the Southwest executive committee and president of A+ FCU in Austin, Texas, told News Now. “That’s the first tier. Then the 1,400 member credit unions [affected by the plan] will hold town halls and webinars to go through the proposed plan. Then NCUA decides. If NCUA says no, then we’ll have to go back to the drawing board. “A lot of hard work went into this,” she added. “The team at Southwest Bridge Corporate was very good. I don’t think people realize how quickly this has to be done. There’s a short time frame to do something, and we will do it.” Three corporates--Constitution Corporate FCU, Members United Corporate FCU, and Southwest Corporate FCU--were placed into conservatorship by the National Credit Union Administration (NCUA) Sept. 24 (News Now Nov. 2). NCUA in October chartered the two bridge corporate credit unions to assume the operations of now conserved U.S. Central Corporate FCU (US Central) and Western Corporate FCU (WesCorp), completing another step in its corporate credit union resolution process (News Now Oct. 6). “Any final approval authority resides with the NCUA board,” John McKechnie, NCUA director of public and congressional affairs, told News Now. “No proposal has been presented for NCUA review.”


RSS print
News Now LiveWire
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
8 hours ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
9 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
11 hours ago
Mortgage interest rates continue slide in September @FHFA http://t.co/agU9RJW5Kq
13 hours ago
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
15 hours ago