It is countdown to an Aug. 31 deadline for United Resources, the new corporate that may rise out of Western Bridge, but there are plenty of signs that credit unions are looking for alternatives as the evidence mounts that the capital goal will not be reached.
From trade association NAFCU and CUSO ProDraft to technology provider Bluepoint Solutions and other corporate credit unions such as Corporate One and Corporate America, the race is on to help create a smooth transition for the approximately 885 credit unions presently doing business with Western Bridge.
There is no information from the NCUA about when or if the regulator will turn off the lights at San Dimas, Calif-based Western Bridge, but the agency has been clear that it does not intend for the bridge corporates to operate under the NCUA umbrella indefinitely.
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