CUs Decide Where to Go After Western Bridge
Which way to the exits?
That is the question high up in the minds of western state credit union executives as they face two realities. Western Bridge had decisively failed to recapitalize.
Matadors Chief Financial Officer Jeff Ballard added: “The Corporate America pricing structure was the cheapest we looked at. It will cost us less than what were paying Western Bridge.”
Ballard also indicated that a particular appeal is Corporate America’s unique, capitalization optional membership. “We have no plans to put capital into Corporate America.” he said. He said that Matadors had lost $434,000 in capital with WesCorp and the direction from the board was to not go there again.