Thank you for sharing!

Your article was successfully shared with the contacts you provided.

According to a letter sent to members last Friday, the board of the $1.5 billion Eastern Corporate Federal Credit Union has voted to decline participation in the NCUA’s Temporary Corporate Credit Union Share Guarantee Program, blaming the terms of participation required by the agency.

“After weighing the benefit of the guarantee against the new burdens that would be placed on EasCorp in order to obtain the benefit of the guarantee, your EasCorp Board unanimously voted to decline the opportunity, in the belief that [it] is in your best interests,” wrote President/CEO Jane Melchionda.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.