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
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
10 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
11 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
11 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
12 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
13 hours ago