Mid-Atlantic Corporate Federal Credit Union, one of the healthier corporates undergoing recapitalization, assured its members and the public of its viability Monday, stressing it "can continue to successfully serve our member credit unions."
In a statement distributed to the media and the Pennsylvania Credit Union Association, Jay Murray, president/CEO, said: "While some corporate credit unions are still suffering the lingering effects of the economic crisis, Mid-Atlantic Corporate is stable and fiscally sound. Thanks to our member credit unions' capital commitments and a great deal of planning, we are well-positioned for the future."
Murray said his staff "will thoroughly review the new corporate rules this week and the resulting impact on corporates and credit unions, and will share its analysis with members as soon as possible."
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