The NCUA in a letter this week urged members of three bridge corporate creditunions to “carefully evaluate” options after reading thecapitalization plans.
|The agency is reviewing the plans submitted by the Members United Bridge, SouthwestBridge and Western Bridge for “reasonableness and transparency.’’
|Once the plans have been approved, the three bridge corporateshave to share their plans with members by May 31.
|The letter urges credit unions to “be aware of any capitalcontribution requirements, and the potential ramifications for notcontributing the minimum required amount of capital. “
|“NCUA does not object to the implementation of pricing, serviceor membership changes by corporates placed on credit unions that donot acquire minimum capital subscriptions,’’ Scott Hunt, directorof the agency’s Office of Corporate Credit Unions, wrote members ofthe three bridge corporate credit unions.
|All corporates have to comply with the agency’s new capitalization rules, which were approved last year, byOct. 20.
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