The North Carolina Credit Union League and the league's service corporation have announced that they have voted unanimously to contribute their "fair share" toward the recapitalization of First Carolina Corporate Credit Union.
The amount of capital involved was not specified.
The decision was taken at the regular Feb. 3 meeting of the board of directors.
"First Carolina has been a valuable partner to the league and to credit unions in [North Carolina] over the years," said NCCUL President/CEO John Radebaugh in a statement posted to the NCCUL website. "The corporate landscape has changed dramatically in the last two years," Radebaugh continued in the statement, "but we strongly believe that the leadership of First Carolina has a great plan in place to continue doing what it does best-serve its members well."