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."

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.