Despite an earlier indication from the NCUA that the regulator hoped to reach a decision about how best to dispose of the assets of conserved corporate Western Bridge in November, that month came and went with no announcements.
November gone, sources say NCUA board meeting on Dec. 15 should include an announcement.
The initial NCUA-sponsored bidders conference for corporate credit unions interested in possibly acquiring all or parts of the failed Western Bridge corporate credit union was a month ago and now questions are circulating among credit unions about probable next steps.
A credit union investment CUSO is positioning its investment options for increased business as it anticipates an early redemption by Western Bridge of more than $4 billion in CDs by Oct. 3.
Agency says goal is to minimize disruption to members, costs to stabilization fund.
CUSO makes bid for some of the funds it says will be made available as Western Bridge redeems $4 billion in CDs.
Agency sets meeting for potential bidders for first week in October, indicates wants to sell corporate as a whole.
Have $11 million? Want to own a piece of credit union history?
Today is the deadline and at least some backers of United Resources want to let it be known that their support is unwavering.
Proposed new corporate's website shows commitments far short of goal day before deadline.