With its corporate planning a wind down in 2011, Iowa credit unions took the first step last week in confronting the fallout from NCUA's corporate restructuring by signing a preliminary
Iowa credit unions cautiously congratulated themselves Thursday for handling the corporate dilemma by linking up with the National Cooperative Bank.
This isn't a rehashing of the corporate credit unions' problems or legacy assets or placing blame. We'll learn about the agency's plans for the legacy assets soon enough (though it has been some time coming). This is about the discovery of next steps.
Faced with a significant drop in investment income from its Community Investment Fund, the National Credit Union Foundation has found another investment partner.
Tom Candell, interim executive director of the National Credit Union Foundation said the foundation's new investment relationship is not meant to compete with corporate credit union but to expand the number of investment opportunities for CUs.