Bonds-Hunt Feud Shroud Merger Delay for Corporate America, LaCorp
Is a personal feud between Corporate America Credit Union CEO Thomas Bonds, who took a leave of absence from his post last month, and NCUA Office of Corporate Credit Unions Director Scott Hunt the reason behind the delay in NCUA approval of a merger between the $3.7 billion Corporate America and the $218 million Louisiana Corporate Credit Union?
Correspondence between the Alabama state credit union regulator and the NCUA suggests it might.
Latham said Nahrwold confirmed those comments to an email she sent to Alabama’s Assistant Administrator Lloyd Moore on Sept. 6, 2009. In the email, Latham said she wrote that Bonds’ “media campaign comments were being perceived by NCUA management and the board as disparaging toward the corporate network.”
Bonds spoke out against U.S. Central’s method of soliciting PIC II funds in December 2008, saying the failed corporate threatened to cut off payment systems support to those who failed to participate.