The struggling $9 billion Members United Corporate FCU today reported some good news in its May financial reports: long-term OTTI projections have improved by $35 million to $60 million, depending upon loss projection model.

However, under current accounting rules, Members United can’t record the amount as a one-time gain; rather, it must be recovered over the life of the investment as an adjustment to the interest yield, the corporate explained in the financial reports, posted online.


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