Credit unions may soon have another alternative for their payment system processing through a new CUSO scheduled for launch by the corporate credit union network.
The $3 billion Mid-Atlantic Corporate Federal Credit Union, long ranked among the healthiest, made clear this week it remains on its own in serving its credit union base and is apparently not joining any CUSO consortium.
ATLANTIC CITY, N.J. -- While it's still in the works, the plan for potentially recapitalizing corporate credit unions will likely have a built-in fail-safe for credit unions wary of recapitalization.
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.
ATLANTIC CITY, N.J. - Corporate One CEO Lee Butke and Mid-Atlantic CEO Jay Murray took heated questions from the floor at the New Jersey Credit Union League's Annual Conference here.
ATLANTIC CITY, N.J. - While it's still in the works, the plan for potential corporate recapitalization is expected to have a built-in fail-safe.
Mid-Atlantic Corporate Federal Credit Union assured its members and the public of its viability Monday, stressing it "can continue to successfully serve our member credit unions."
This week, small corporate credit unions whose business models have historically depended upon U.S. Central FCU meet to hear from new providers.
Corporate executives tell Credit Union Times they don't know anything about NCUA's legacy assets plan, including whether or not their investments will be included.
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