The head of the Credit Union League of Connecticut Monday called "good news" that term deposits held in the pending liquidation of Constitution Corporate Federal Credit Union will be held secure at fixed rate and maturity.
"I think that is extremely good news since now in essence we're under the same 24-month proposition as the other corporates," said Tony Emerson, president/CEO of the league referring to the two-year window on capital/servicing for the four remaining conserved corporates.
As announced Friday, NCUA is transferring all of Constitution Corp.'s CU operations to the also conserved Members United Corp. FCU of Warrenville, Ill.
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