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The seized Western Corporate FCU posted the corporate system’s second highest term deposit rates yesterday, offering 0.74% for a two-year certificate. That’s 20 to 30 basis points higher than competitors like Members United Corporate FCU and Southwest Corporate FCU.

NCUA spokesman John McKechnie said normal seasonal outflows are being experienced at WesCorp, and the dividends incent members to keep their shares on deposit. WesCorp remains mindful of its need to build retained earnings, he said, but despite profitability, no amount of earnings can reasonably restore the deficit incurred by credit losses.


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