Members United Corporate FCU released its September month-end financial statements today, and as expected, the $7.5 billion corporate depleted 100% of paid-in capital and recorded a 40.2% depletion of membership shares.
The accounting move, in accordance with NCUA guidance, eliminated its retained deficit that existed as of Aug. 31, 2009.
That leaves $281.5 million in membership capital shares to guard against expected "additional investment losses" that will be recorded in October financial statements.
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