The wind down of U.S. Central Bridge Federal Credit Union's payment services "has progressed more smoothly than originally anticipated", the NCUA said in a recent Letter to credit unions.
As a result, all U.S. Central ACH services will be transitioned to other providers no later than Sept. 30, three months ahead of the regulator's previously announced Dec. 31 goal, the agency said.
Because all other U.S. Central correspondent services have already been wound down, the NCUA said in the letter it plans to close the Olathe, Kan.-based corporate on or about Oct. 31, 2012. The early shutter will result in lower resolution costs, the NCUA said.
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