The $3.7 billion Corporate One Federal Credit Union is placingfull reliance for repayment on monoline insurer Ambac AssuranceCorp, bucking the trend of other corporates who have recorded OTTIson affected securities.

In its March 2010 financial reports posted online(, Corporate One explained the decision,saying after analysis of the Wisconsin insurance commissioner'sforced rehabilitation plan, it believes Ambac can meet paymentobligations.

Chief Financial Officer Melissa Ashley said the Columbus,Ohio-based corporate reviewed supporting court documents and theAmbac's 2009 year-end statutory financial statements, in which itreported a statutory surplus of $802 million.

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