One of California's largest banks, Bank of the West, made it known Thursday it stands ready to take up any servicing slack credit unions might encounter from the corporate restructuring.
"Bank of the West has been uniquely supportive of credit unions for more than 30 years and we want to expand our servicing," said James Kennedy, executive vice president of the $71 billion San Francisco bank.
Regarding NCUA's Sept. 24 actions, Kennedy said, "Certainly, the credit union industry benefits by having alternatives to the large corporate credit unions, especially those which have recently been seized by NCUA."
Bank of the West, which is among the nation's top 25 largest banks, "is well positioned to help credit unions better serve their members" through the bank's service delivery and financial products, Kennedy said.
In general, he concluded, Bank of the West seeks to provide options for CUs as they now assess their situations and determine a course of action.
Subscribers only can read more about this in Credit Union Times' Corporate Premium Supplement entitled, 'Beyond Black Friday: The Future of Corporate Services' in the Oct. 27 issue.