Members United Corporate Federal Credit Union announced Friday a nearly $150 million net loss for October 2009, split almost evenly between U.S. Central Federal Credit Union capital losses and other-than-temporary impairments resulting from its own 3rd quarter investment review.

Some employees also spent their last day at Members United Friday, but officials said they were part of a staff reduction move made months ago.

The Warrenville, Ill.-based corporate wrote off all of its remaining $74.6 million in U.S. Central capital as of Oct. 31. An additional charge of $77 million was recorded for new OTTI from the corporate's securities portfolio.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical 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 and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.