And then there were 16. That is the current count of corporate credit unions, after a year where all the institutions faced an Oct. 20 NCUA deadline to qualify as “adequately capitalized” per the regulator’s calculus.
Ohio-based corporate pledges $604,533 as deadline arrives for commitments.
Agency posts July 11 info webinar on the Web as July 29 deadline nears.
There is, we are told, no such thing as a free lunch. For the NCUA, however, there may well be free money.
On the heels of Sheila Bair relinquishing her chairmanship of the FDIC, NCUA seems poised to incorrectly continue her legacy.
Credit unions and their trade groups appear to be voicing support for the NCUA plan to allow credit unions to prepay some of the cost of the bailout of corporate credit unions.
CUNA asks for interset on prepaid assessments; NAFCU wants no cap on contributions.
Agency says it wants to encourage "more frank feedback" from credit unions on participation in corporate rescue fund.