A temporary Federal Reserve program is quietly providing a cushion to corporate credit unions as they attempt to raise capital from members to meet NCUA regulatory requirements.
A temporary Federal Reserve program has quietly reduced the amount of capital credit unions have had to pledge so corporates can meet NCUA requirements.
The Aug. 31 deadline for capitalizing – a date self-imposed by multiple corporate credit unions – is here. Who’s left standing? Who is folding?
First Carolina Corporate Credit Union says it has fully funded its Perpetual Contributed Capital, bringing in nearly $65 million, put in by 142 members.