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.
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