Financial consultant and industry veteran Marvin Umholtz praisedcorporate credit unions for thinking outside the box whenbrainstorming new strategies. In particular, he cited FirstCorporate Credit Union Pete Pritts' recent statement he'sconsidering breaking off some services into CUSOs or converting toa mutual bank charter.

However, Umholtz said those efforts "might prove to be ahopeless exercise."

"For all practical purposes, there is no capital left in thecorporate credit union network," he said. "Corporate credit unionsexist today only due to regulatory forbearance andconservatorships."

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