Corporate America CU Buys CUSO of Constitution Corporate FCU
Corporate America Credit Union has purchased and assumed Smart Source Solutions, the CUSO owned by Constitution Corporate FCU, which the NCUA plans to liquidate by the end of the month.
The NCUA said the CUSO will be transferred to Birmingham, Ala.-based Corporate America by the end of November.
The NCUA said Corporate America was chosen following a "bidding process that included credit union and non-credit union entities.''
Constitution was one of three corporates that the NCUA placed into conservatorship in September. Last Friday, the agency announced it planned to liquidate Constitution at the end of November.