The NCUA yesterday posted online the first of three video productions in which Chairman Debbie Matz explains corporate stabilization.
Spokesman John McKechnie said the video productions are "aimed at volunteers," and were developed after feedback from NCUA board member and senior staffer speaking engagements this winter revealed volunteers still didn't fully understand corporate losses.
The videos are available on the NCUA's website the series will be made available free to any federally insured credit union in DVD format to be viewed by volunteers and staff. McKechnie said the series is on target to be completed within the month.
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Yesterday's launch covers the history and services of corporate credit unions. Track 2 will describe types of corporate credit union investments, how these investments were affected by financial market declines, and how problems with the investments threatened the credit union system.
The final track will explain NCUA efforts to stabilize the credit union system and achieve the least costly outcome for federally insured credit unions.
"It is my strong belief that more information about the history, structure and function of the corporates will assist credit unions in making sound decisions about the future," said Chairman Debbie Matz. "I am confident that this series will benefit credit union professionals and volunteers, and foster a greater understanding of the critical issues at hand."
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