Panel Maps Plan for Southwest
Kerry Parker, president/CEO of A+ Federal Credit Union in Austin, Texas, is one of many credit union executives helping newly conserved corporates plan for the future of corporate services.
Parker is one of a select group of 13 top CU executives from across the Southwest and West picked last month by management of the NCUA-conserved Southwest Corporate FCU to make suggestions and advise the NCUA and Southwest how to proceed in dealing with an array of endangered corporate services from investments to check processing.
Texas CU leaders were hardly alone in joining panels pondering what to do about service options in the wake of corporate confusion. In Connecticut, home of the NCUA-conserved Constitution Corporate FCU, currently up for a potential NCUA merger with another corporate, more than 50 CU leaders signed up within days for a "review" panel set up by the Connecticut Credit Union League.
The "Corporate Service Replacement/Options Review Group," as the panel is known, was to meet next week to discuss directions and options for CUs grappling with the Constitution fallout. CUs in that state have also expressed worry about corporate services, since the $1.4 billion Constitution is subject to a purchase/assumption transaction under the Sept. 24 NCUA restructuring. Tony Emerson, president/CEO of the league, said Connecticut CUs are anxious to hear from NCUA on the agency's next move concerning Constitution, which was to be announced within 4-12 weeks of Sept. 24.