The NCUA has begun backing down staffing levels at Western Bridge Corporate FCU, the agency confirmed for Credit Union Times.
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.
As the birth of a new corporate credit union model emerges, the CUSOs owned by the three corporates that were recently placed
Denied its NCUA application to convert to a federal charter in a contentious case, the $654 million Vantage CU of Bridgeton, Mo., may take its complaint to federal court.
The CUSOs owned by the three corporate credit unions placed in conservatorship Sept. 24 remain open for business 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.
It's been nearly eight months now since plans for the nation's biggest credit union merger, the $4.6 billion consolidation of First Tech CU and Addison Avenue FCU, was unveiled--and there is still no word on any regulatory approval.
NCUA today confirmed that it has sought bids on $800 million worth of securities backed by U.S. Central FCU and Western Corporate FCU investments.
The $41 billion Navy Federal Credit Union announced Sept. 13 it will merge the $605 million United Services of America FCU of San Diego, which fell to 2.76% net worth as of June 30.
The NCUA's contentious denial last week of a federal conversion charter sought by the $654 million Vantage Credit Union of Bridgeton, Mo., could soon head to a federal court, it was disclosed Monday.