The NCUA announced Friday that neither U.S. Central Federal Credit Union nor Western Corporate Federal Credit Union will have annual meetings this year.
In its weekly corporate update, the agency reported that U.S. Central's members will meet in Overland Park, Kansas on April 29 for a town hall meeting with new CEO Jim Nance, in lieu of an annual meeting.
WesCorp's annual meeting, usually presented in tandem with the corporate's economic Future Forum, was scheduled for May 18-21 in Anaheim, Calif. That event is cancelled, also replaced with a town hall meeting on an unspecified date, to take place at WesCorp headquarters or a larger venue if attendance requires more space.
The NCUA also reported it has notified all member credit unions that the requirement to replenish member capital accounts has been "indefinitely suspended."
"Member credit unions will not be required to provide MCA retroactively or based on any retroactive financial measurement. Further, for credit unions that increase deposits to assist the liquidity position and hold to maturity strategy, those additional deposits will not lead to a future requirement to provide or increase MCA," the report stated.
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