U.S. Central Federal Credit Union and the NCUA have clarifiedthe bottom-line affect the 2008 audit will have on membercapital.


Turns out, the Dec. 31 numbers are just half of the story. What the$27 billion wholesale corporate didn't release Friday were the Jan.1 numbers, in which non-credit losses were reversed. U.S. CentralChief Financial Officer Kathy Brick said the only bottom-linedifference is a $9.2 million impairment that will be recognized inthe 3rd quarter, along with any additional impairmentsClayton Holdings might find when it reviews U.S. Central'sportfolio this month.

Brick said her shop will post updated 2009 financial statementson its Web site later today. (www.uscentral.org)

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