X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In an effort to keep members informed, the $9 billion Members United Corporate Federal Credit Union provided members three different loss scenarios yesterday.

Scenario No. 1, assuming no additional OTTI and 23% U.S. Central MCS impairment would lead to a 9% depletion of member capital shares. However, scenario No. 2 would build in full impairment of the remaining $155.5 million investment in U.S. Central MCS, resulting in a 41% capital depletion for Members United. Finally, thought the corporate does not have figures back from its auditing firm yet, it estimated a 62% MCS depletion if a $100 million other-than-temporary-impairment hit was taken; Members United Senior Vice President of Marketing Vic Vrigian emphasized that this figure was purely for illustrative purposes though.

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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.