A statement issued today by the New York Corporate Services Task Force offered an unequivocal recommendation to New York credit unions to support reconstituting the charter for Members United Bridge Corporate. The statement also endorsed Members United's "Forward Together" plan as the business model for the reconstituted corporate.
Key to the statement is its broad support for "a credit union-owned corporate credit union system."
The statement also supported "consolidations/mergers within the corporate credit union system that would enhance Members United Bridge's long-term strength and viability."
In the statement, Credit Union Association of New York President/CEO William J. Mellin said, "Using the recommendations developed by our Corporate Services Task Force, we look forward to working with CUNA, the NCUA and other key parties to shape a corporate credit union system that will provide long-term benefits and stability."
The New York Credit Union Services Task Force is composed of 27 credit union leaders representing a broad swath of the state, from New York City to Utica and the Finger Lakes.