National Credit Union Foundation Executive Director, Stephen Delfin, said the foundation doesn't expect NCUA's take over of US Central and WesCorp corporate credit unions to have an immediate impact on its operations.
"We have finished our corporate giving drive for this year, so we don't expect there to be much of an impact on giving-at least not now," Delfin said. "We also don't expect any direct impacts on the management of our biggest asset, the CIF," Delfin added.
The corporate system, as a whole, donates $100,000 to the NCUF every year, Delfin said, and both U.S. Central and WesCorp sponsor several different NFUF fundraising events and initiatives, Delfin explained.
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He said the foundation was also waiting to see how many of the staff of both organizations remained after the NCUA move. "We have pretty deep relations with both organizations," Delfin said.
But he also noted, as he had before, that the overall economic situation and what the NUCA's corporate stabilization assessments for the share insurance fund will make this year a very difficult fundraising year for the foundation and that the biggest challenge to the charity will remain the very low interest rates.
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