Pay to Play: Comparing Capitalization Requirements
Editor's Note: This is a corrected version of the article that was published in the June 8, 2011, edition of Credit Union Times.
Show us the money. That could be the rallying cry of natural person credit union executives as the system’s corporate credit unions continue their reshuffle to meet tougher NCUA financial ratio requirements. But probably what they are really asking is: How much will we be asked to pay?
United Resources United Resources is the new corporate that would rise out of the remains of Western Bridge. It, too, will open for business with a clean balance sheet.
"All forms of settlement and item processing, liquidity services and borrowing" will be its business focus, said Matt Davidson, chief financial officer at the Kern Schools FCU and chair of the United Resources formation committee.
"We did not cost our members a dime in lost capital," said CEO Lee Butke. Corporate One anticipates that its solidity will help it grow. Membership now is around 775; Butke expects the number to hit 850 by year-end.