More evidence of the purported failure of United Resources toachieve its capital goals surfaced Thursday in the form of thegraphic thermometer used by the would-be successor to WesternBridge to show progress in raising capital.
|The latest image, dated Aug. 11, indicated that $52,491,123 hadbeen raised, towards a goal of $200 million.
|As reportedearlier Thursday, many sources now are saying that Western BridgeCEO Phil Perkins – who had been named to serve as CEO of UnitedResources if it met its capital goals – has indicated that thecapital drive will fail.
|The $52 million raised is up sharply from the $22.8 million thathad been raised according to the July 19th “thermometer,” the mostrecent figure available until today's “thermometer” surfaced.
|Sources also have elaborated that apparently many of the largercredit unions that had been using Western Bridge have declined tocapitalize United Resources and it would have taken theirparticipation to close the roughly $150 million gap in capitalbefore the Aug. 31 deadline.
|Calls to Perkins' office have not been returned.
|Also Thursday, NAFCU said it was advising its members using Western Bridge to begin consideringalternatives.
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