Accept this reality: How corporate credit unions were will not be again, at least not soon. The old model is shattered, certainly at the large corporates that blew up as a result of bad investments. That implosion, coupled with new, strict NCUA rules regarding corporate credit unions' operations in general and risk management in particular,  is why Topic A in the credit union industry during 2011 has to be how corporate credit unions will service natural person credit unions going forward.

Many experts believe they see the future, and it involves wholesale revamping of the corporate credit union business model.

"Corporates need to reinvent themselves," flatly said Michael Scheuerman, senior consultant with CCG Catalyst, a financial services consulting firm. "To survive, corporates need to provide value to natural person credit unions." And of course that means figuring out what they need. "Corporates need to think about how credit unions operate. That will help them decide what services are needed."

Not every expert believes the remake needs to be radical. There are voices who insist all is well with right-sized, old-fashioned corporates.

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