The initial NCUA-sponsored bidders conference for corporatecredit unions interested in possibly acquiring all or parts of thefailed Western Bridge corporate credit union was a month ago andnow questions are circulating among credit unions about probablenext steps.

Answers are beginning to emerge in the form of alternativescenarios for the conserved corporate and its some 875 members.Nothing is coming out of the NCUA–other than to acknowledge thatfour entities have expressed interested in bidding. The NCUAdeclined to reveal their identities, but industry sources toldCredit Union Times they are Alloya, Catalyst, SunCorp andCenCorp.

“We are encouraged that we will find an acquirer given we havefour corporates looking, but we cannot make any guesses as to whatthe bids may look like,” said NCUA spokesperson David Small. He added that the regulator is aiming for a November decision butwill not guarantee that timeline.

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