NCUA Spokesman John McKechnie said Dave Shelter, deputy director for the Office of Corporate Credit Unions, was only speaking hypothetically yesterday during the NCUA’s Town Hall webcast when he described how the agency would liquidate U.S. Central FCU and Western Corporate FCU.

In his response to an audience question asking how long the NCUA planned to keep the two seized corporates in conservatorship, Shelter said U.S. Central and WesCorp still provide valuable products and services to other corporates and natural person credit unions. So, until the NCUA releases its legacy assets plan and final corporate regulations, it will be “business as usual” at U.S. Central and WesCorp.

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