Corporates

• Banks Cutting Cords With CUs

  By Heather Anderson  |  April 19, 2013

  Reports of banks closing credit union correspondent relationships have extended to New York and New Jersey.

• LaCorp Reaps $600,000 Settlement From Credit Suisse

  By Heather Anderson  |  April 17, 2013

  Louisiana Corporate Credit Union has emerged victorious from a decade-long suit involving the liquidation of National Century Financial Enterprises. The corporate, in an announcement last week, said it has agreed to a $600,000 settlement with Credit Suisse, the last remaining defendant in the securities fraud case.

• Banks Cite BSA, Money Laundering Risk in Closing Credit Union Correspondent Accounts

  By Heather Anderson  |  April 16, 2013

  Huntington, JPMorgan Chase closed accounts at up to 30 West Virginia, Ohio credit unions, their corporates say.

• Catalyst 2012 Financials Reveal Strong Numbers After Two Acquisitions

  By Heather Anderson  |  April 12, 2013

  Texas-based corporate posts $14 million in profits, coverage ratio of 88%.

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  NCUA Sells U.S. Central’s Kansas City Headquarters

  By Heather Anderson  |  April 12, 2013

  Purchase price not disclosed for 129,321-square-foot facility that once housed one of the largest of the corporate credits unions, pre-collapse.

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  LaCorp Reaps $600,000 Settlement in 2002 Securities Fraud Suit

  By Heather Anderson  |  April 9, 2013

  CEO David Savoie says 98% of losses recovered. Legal fees at 10% sharply lower than NCUA contingent fees.

• CenCorp Members Approve Merger With Alloya

  By Heather Anderson  |  April 4, 2013

  Illinois-based Alloya to maintain suburban Detroit office of CenCorp after merger closes on April 30.

• NCUA Scores $165 Million Securities Settlement with Bank of America

  By Heather Anderson  |  April 2, 2013

  Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.

• NCUA: Estimated Future Corporate Assessments Less Than $4 Billion

  By Heather Anderson  |  March 28, 2013

  Agency says reduction in 2013 corporate assessment not in the offing but have passed the halfway point in overall payback.

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  Former Corporate CEO Brad Miller Takes Helm at PCS

  By Marc Rapport  |  March 27, 2013

  Ex-CEO of merged Southeast Corporate to head up South Carolina-based processing, printing CUSO.