A new Moody's liquidity risk assessment on Western Corporate Federal Credit Union reveals that despite being placed into conservatorship March 20, WesCorp has not experienced a run on shares.
Member shares, the primary source of balance sheet funding for WesCorp, totaled $22 billion as of May 31, up 38% so far this year, which is "consistent with typical seasonal patterns," Moody's said. The report was posted Friday on the firm's Web site (www.moodys.com).
Moody's acknowledged the NCUA's corporate share guarantee program, saying the program, along with other NCUA actions, has "helped stabilize share flows throughout the credit union system."
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? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
