Even with ongoing fallout, the shock of the corporate crisis–nownearly two years old–may at last be wearing off, shedding a morepositive light on some of the surviving corporates, according toCharles Emmer, the president/CEO of Ent Federal Credit Union,Colorado’s largest.

In an interview Tuesday, the head of the $3 billion ColoradoSprings CU said “I never thought it possible when the NCUA firstacted that we would consider recapitalizing our corporate but nowwhen you look at the alternatives and some of that pricing, theylook pretty good.”

Emmer, speaking out in connection with his role as a newlyappointed CU member of a regional Federal Reserve panel, said alsothat CUs may need to start thinking differently about the Fed as anewfound regulator considering its powers under the Dodd-FrankAct.

Indeed, rulemaking on interchange pricing appears “to put theFed in our future,” forecast Emmer, which is why the Coloradoexecutive readily agreed to serve on a new advisory panel of theFederal Reserve Bank of Kansas City, made up largely of communitybank CEOs and slated to hold its first meeting March 24-25.

“We’ve already figured the interchange loss will cost us about$10 million in revenue and that’s not a small matter,” saidEmmer.

Discussing corporates and recapitalization plans, Emmer said Entexpects to actively participate in town hall meetings of the $2billion SunCorp of Denver slated through May in its “four corestates” of Colorado, Nebraska, Utah and Wyoming.

SunCorp, with 300 members, said Tuesday that it has held“numerous meetings” since November in liaison with leagues andtheir chapters, with early sessions focusing on “timelines and theNCUA rules for corporate credit unions and the impact on capitalneeds.”

Its current recap plan will be “finalized and submitted to theNCUA well in advance” of a March 31 deadline, said SunCorp’spresident/CEO, Tom Graham.

Meanwhile, Emmer said that based on service and liquiditypricing of some alternative providers like “the big money centerbanks which charge much higher,” the SunCorp menu appears morefavorable in comparison. Though, he said, Ent is still mullingprovider decisions.

Nonetheless, the negative image and attitudes about corporates“has gotten much better,” he said, adding that CUs seem “to begetting over their anger and upset.”

Regarding the Kansas City Fed appointment to the new CommunityDepository Institutions Advisory Council, Emmer said he will belooking for common ground with some of the banks on the panel, butat first glance “I was curious to see one of their big concerns wasag lending” and on that a CU may find it hard to relate.