Corporate credit unions scrambled to put into place responses to NCUA's announcement Thursday that it had failed to find a buyer for conserved corporate U.S. Central Bridge's ACH, Apex and related payments lines of business and would instead "wind down" those operations.
That decision by the regulator triggered the big question: how did this happen? A source with significant familiarity with the U.S. Central operations told Credit Union Times: "What U.S. Central had was not economically viable. Its services were priced out of the market."
He predicted that perhaps after a transition that ought to proceed smoothly for well-prepared corporates, corporates will in fact find they are getting the same – or better – services at lower prices. "I see this as good news for corporates. Nobody will be left high and dry."
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