Credit union members of Southwest Bridge Corporate Federal Credit Union will meet today from 2 p.m. to 4 p.m. CT to review proposed business models for the restructuring corporate.
The meeting will take place as a webinar.
Afterwards, members will vote--by US Mail, fax, or electronically at the webinar--to determine the level of member support going forward. In its ballot materials Southwest Bridge stressed that voting is not a commitment to recapitalizing the corporate.
Members in the webinar will also hear about six possible business models for Southwest Bridge:
o A merger with Georgia Federal Credit Union
o Charter a new corporate
o Refocus as a nationals payments CUSO
o Establish a new CUSO or CUSOs
o Consolidate with existing CUSO(s)
o Consolidate with a non-credit union entity
Ballots are due Jan. 26, with results presumably announced shortly thereafter.