Central Corporate Credit Union President/CEO Bill Walby said his team didn’t anticipate U.S. Central’s losses before others did. However, the $3.7 billion corporate’s management and board did make some key policy decisions that allowed CenCorp to emerge from U.S. Central’s second-quarter losses with $11 million in reserves and undivided earnings.

CenCorp’s U.S. Central exposure isn’t that far off from other retail corporates, Walby said, but he did admit the Southfield, Mich.-based institution does have less exposure thanks to risk concentration policies. Additionally, back in 1999 CenCorp didn’t purchase as much PIC I as other U.S. Central members.

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