As the industry frames its next response to corporaterestructuring and service options, CUNA President/CEO Bill Cheney,provided fresh details Friday on a special high-level credit unionSummit next month.

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The goal of the one-day Summit is to chart the future of thecorporate system and find optimum service approaches. The gatheringwill have representatives from a broad spectrum of industryinterests and organizations, ranging from healthy corporates andstate leagues to NAFCU and CUNA Councils.

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Stressing the urgency in developing solutions and workingtogether, Cheney said a Midwest site, possibly Chicago, is beingconsidered. The planned date will be sometime in the first twoweeks of November with no more than 50 in attendance to keep thediscussion manageable.

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CUNA said such a gathering was needed to coordinate how theindustry addresses issues arising from the NCUA's new corporate CUrules.

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Since the NCUA's creation of five bridge corporates, Cheney saidCUNA and the state leagues have been fielding thousands ofquestions from concerned CU managers and boards about the futurerole of corporates in providing key payments, settlement, liquidityand investment advisory services.

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NAFCU issued a statement saying it welcomed joining the Summit,adding that it expects a new corporate system "will rapidly evolveover the next three to six months that is appropriately shaped bymarket forces and the needs of natural person credit unions."

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NAFCU said it is "continuing to work aggressively with ourmembers to ensure that the products and services that they havereceived through the corporate system that are necessary to servetheir members continue to be available."

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