SAN DIMAS, Calif. – Western Corporate FCU is offering a free webcast at 11 a.m. Pacific Time on Wednesday for credit unions interested in participating in the CU SIP program.
The informational session is open to WesCorp members and non-members alike; registration is available on the corporate's Web site (www.wescorp.org).
"We found that in the initial offering, many credit unions didn't have time to digest the program or consult with their boards prior to the deadline, so we think there is still a significant need for information," said Joe Barron, Director of Investments Product Development and webcast presenter.
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Barron said most questions have run along the lines of the transaction's structure, including price, collateral requirements and funding schedule. Benefits of CU SIP include a 25 basis point spread and no risk.
"There are very few reasons why a credit union wouldn't participate, from a financial rationale standpoint," he said.
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