Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CUs dont have to act now on corporate decisions Matz
DALLAS (10/12/10)--National Credit Union Administration (NCUA) Chairman Debbie Matz urged credit union boards to wait for more information about corporate credit union options before looking outside the system for services. Matz told Corporate System Resolution Town Hall Meeting participants that bridge corporate credit unions will operate for 24 months to provide time for the credit union system to develop multiple options for corporate services. Southwest Corporate, which is now in conservatorship, is expected to evolve into a bridge corporate structure in November (LoneStar Leaguer Oct. 11). Southwest is currently forming an Advisory Council of credit union executives to help develop future corporate services. If a credit union’s contracts for corporate services expire during the 24-month bridge period, Matz noted that bridge corporates may honor current pricing on a month-to-month basis. Scott Hunt, NCUA Office of Corporate Credit Unions, advised credit unions to maintain current deposits in the system until the securitization process is complete in roughly six months. Maintaining deposits will prevent strains on liquidity that could create additional losses and impact all credit unions. The NCUA offers a three-part DVD about the corporate system resolution plan and timetable. A fourth installment is now available on the NCUA website.


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
10 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
16 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
16 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
18 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
18 hours ago