Office of Corporate Credit Unions

• NCUA Announces Closure Plans for U.S. Central

  By Robert McGarvey  |  January 10, 2012

  The NCUA today announced its plans for winding down US Central by yearend.

• Industry Reacts to GAO Report

  By Robert McGarvey  |  January 5, 2012

  Corporate leaders had mixed reactions to this week's report from the GAO critiquing the NCUA's handling of the corporates crisis.

• Catalyst Corporate Wins Bidding For Western Bridge

  By Robert McGarvey  |  December 18, 2011

  The email from the NCUA to current Western Bridge members summed it up. “The National Credit Union Administration Board awarded Catalyst Corporate Federal Credit Union (Catalyst) the exclusive right to acquire Western Bridge Corporate Federal Credit Union (Western Bridge).”

• Catalyst Wins Western Bridge Bidding

  By Robert McGarvey  |  December 14, 2011

  NCUA awards Texas-based corporate "exclusive right to acquire" remains of WesCorp.

• NCUSIF Perks Up, NCUA Eyes Possible Assessment Drop

  By Claude R. Marx  |  September 25, 2011

  ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.

• NCUA Sets Oct. 5 Bidders Teleconference for Western Bridge

  By Robert McGarvey  |  September 23, 2011

  Agency says goal is to minimize disruption to members, costs to stabilization fund.

• NCUA Announces Plans to Assure “Uninterrupted Service” From US Cental Bridge

  By Robert McGarvey  |  September 2, 2011

  NCUA seeks to reassure on US Central Bridge.

• WesCorp Defendants Strike Back in NCUA Suit

  By Robert McGarvey  |  August 31, 2011

  Filings note that NCUA had fulltime examiner on site, knew full well what investments were being made.

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  The NCUA’s Biggest Earners: 25 Make More Than $201,000

  By Claude R. Marx  |  May 23, 2011

  Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.

• Georgia Corporate and Southwest Bridge File Consolidation Plan With NCUA

  By Robert McGarvey  |  April 29, 2011

  New Catalyst Corporate Credit Union would "conservatively" have 935 credit unions aboard, Georgia Corporate execs say.