U.S. Central Federal Credit Union

• Corporates Create Payment System CUSO

  By Michelle A. Samaad  |  December 1, 2010

  Credit unions may soon have another alternative for their payment system processing through a new CUSO scheduled for launch by the corporate credit union network.

• Corporate Network Developing Payment Systems CUSO

  November 12, 2010

  The Association of Corporate Credit Unions today announced that a CUSO will be formed for credit unions payment systems.

• Corporate America CU Seeks Audits

  By Michelle A. Samaad  |  October 27, 2010

  Records from BDO Seidman, the auditor of U.S. Central Federal Credit Union, have been subpoenaed by Corporate America Credit Union in its suit against the directors and officers of the corporate.

• NCUA IG Faults US Central Management and NCUA Oversight

  By Claude R. Marx  |  October 22, 2010

  The failure of U.S. Central Federal Credit Union was caused by the risky investment practices of its management and by insufficient examinations by the NCUA and weak regulation.

• NCUA Holding Special Meeting on Corporates and Legacy Assets

  By Claude R. Marx  |  September 16, 2010

  NCUA Chairman Debbie Matz announced today that the board will hold a special meeting on Friday, Sept. 24 at which it will unveil the final rule on corporate credit unions and announce its plans for dealing with the corporates' legacy assets.

• League President Cheney Named To Become CUNA President/CEO

  By Claude R. Marx  |  May 12, 2010

  Reaching inside the credit union movement following the tenure of a prominent outsider, CUNA last week named California-Nevada Credit Union League President Bill Cheney as its new leader.

• Hyland Report Supports Supplemental Capital and Stiff Safeguards

  By Claude R. Marx  |  April 21, 2010

  Allowing credit unions to raise supplemental capital that is counted toward net worth requirements is an "appropriate policy consideration,"

• U.S. Central Case Going to Trial

  By Heather Anderson  |  April 7, 2010

  Corporate America Credit Union won the right to advance to the discovery phase of its case against U.S. Central Federal Credit Union's former directors and executives.

• Corporate America Gets Court Date with U.S. Central

  By Heather Anderson  |  March 29, 2010

  Corporate America Credit Union's case against U.S. Central Federal Credit Union's former directors and executives is going to court. U.S. District Court Judge Inge P. Johnson filed the order March 25, setting a Dec. 6 trial date in Birmingham, Ala.

• Corporate Comment Letters Debate Who Is to Blame and Who Will Survive

  By Heather Anderson  |  March 17, 2010

  NCUA officials have repeatedly said they want credit unions to determine the future structure of the corporate system.