Callahan & Associates Chairman Chip Filson said he questions a nearly $2 billion reduction in the NCUA’s Central Liquidity Facility stock reported in October when U.S. Central Bridge was liquidated. Filson also posted a blistering Feb. 28 opinion piece on the Callahan website questioning the NCUA’s financial transparency on the...
A nearly $500 million fourth-quarter other-than-temporary impairment blew through what was left of the $35 billion U.S
NAFCU President/CEO Fred Becker downplayed the importance of U.S. Central's fourth quarter $500 million OTTI announcement, which partially impaired the NSUCIF's $1 billion capital note, calling it "nothing new."
At least five corporate credit unions had posted their unaudited December month-end financial statements online as of press time.
Of the five corporates that have posted unaudited December and year-end figures, three reported net losses and two net profits. However, all are anticipating better bottom lines than those recorded in 2008.