U.S. Central peaked out at $2.8 billion, N.C. State Employees' at $489 million, WesCorp averaged $100 million a day.
Agency says it wants to encourage "more frank feedback" from credit unions on participation in corporate rescue fund.
Credit union executives spent the first week after the NCUA unveiled its corporate credit union prepayment plan studying it and reserving judgment.
Rumors swirled Monday that U.S. Central Bridge had tumbled deep into a “liquidity crisis,” as one Credit Union Times source put it.
NCUA says plan proposed Thursday came from requests from credit union executives.
The NCUA may be saying it has no intent of compelling corporates to merge, but a recent upload to the NCUA website might say otherwise.
NCUA Inspector General says poor investment decisions by executives and volunteers and inadequate oversight by the NCUA were the key factors in the heavy losses at Members United Corporate Credit Union.
Cincinnati-based Fifth Third Bank continues to gain visibility as an alternative to corporate credit unions, but senior bank executives also made plain that their approach to credit unions fundamentally differs from a corporate’s.
CEO Lee Butke expects 850 natural member credit unions to sign on by year end.
The NCUA board on April 21 approved a final corporate credit rule that left out two controversial provisions.