Next week FORUM Credit Union will not only be celebrating International Credit Union Day but Indiana's fifth annual Money Smart Week as well.
The three corporate credit unions placed into conservatorship Sept. 24 bring the total of seized corporates to five. Operations will continue at all five corporates.
The decision-making process began in earnest last week among credit union managers and the leaders of state leagues on the next step in dealing with possible alternate vendors for wholesale services as a result of the corporate seizures.
NCUA's latest corporate seizure requires the industry to remain "calm and avoid knee jerk reaction" as it considers alternative moves to handle wholesale services, the chairman of the Illinois Credit Union League said today.
Charles Furbee, who retired from the Federal Reserve Bank of Chicago in March 2004, has been named CEO of the conserved Members United Corporate FCU.