The NCUA said Friday it would hold a teleconference for potential bidders for Western Bridge at 1 p.m. EDT on Oct. 5.
In announcing the teleconference, NCUA executive Scott Hunt said in a statement, "NCUA's primary goal is to seek a solution that minimizes disruption to Western Bridge's members. Our preference is to seek an acquirer that can absorb the operations in whole while also minimizing costs to the stabilization fund." The bidding is only open to other corporate credit unions.
The statement offered these additional details: "Participation in the bidders' teleconference requires an executed confidentiality agreement with NCUA. Bidders must provide their executed confidentiality agreement to the Office of Corporate Credit Unions (OCCU) by no later than noon, Oct. 4. To request an introductory information packet, including the required confidentiality agreement, contact OCCU at [email protected]. Calling instructions for the teleconference will be provided to the list of attendees prior to the date of the meeting."
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