The $238 million Midwest Corporate Credit Union will join the $1.5 billion Eastern Corporate Federal Credit Union in signing the NCUA's revised Corporate Credit Union Share Guarantee Program, President/CEO Doug Wolf told the Credit Union Times.
Midwest's board voted to sign the LUA last Wednesday, he said, and the corporate is currently preparing the paperwork required by the NCUA.
Wolf said his team agreed with the NCUA that the revised deal is more flexible and less ambiguous, and said the changes resolved the issues that caused Midwest Corporate to originally turn down the offer.
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Both the $1.75 billion First Carolina Corporate Credit Union and the $100 million Iowa Corporate Central Credit Union, who also did not sign the original agreement, said they are not yet ready to announce their decision.
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