There may be only four or five corporate credit unions within 10 years. There isn’t that much business out there. "The small won’t survive,” predicted John Fiore, CEO of Motorola Employees Credit Union and a key figure in the recapitalizing of Members United as Alloya. “Within a couple years we...
The initial NCUA-sponsored bidders conference for corporate credit unions interested in possibly acquiring all or parts of the failed Western Bridge corporate credit union was a month ago and now questions are circulating among credit unions about probable next steps.
Sources name Alloya, SunCorp, CenCorp and Catalyst.
Which way to the exits?
The NCUA said Friday it will hold a meeting of potential bidders for U.S. Central Bridge Corporate on Oct. 3, probably in the Kansas City, Mo., area.
Colorado corporate says it has raised more than $60 million from 176 members.
The dizzying pace of corporate events and NCUA rulemaking last week left many CU managers wondering where to turn for help.
League invites corporates, other providers to Sept. 20-21 meeting.
Next step may be to bring in vendors.
With NCUA deadlines nearing on recapitalizing the corporates, the jockeying among credit unions and corporates about the shape of provider services focused on the Mountain States last week with at least two state trade groups paying attention to the fate of the $1.9 billion SunCorp.