Credit Union Times | Accurate and Timely CU News

Corporate Assessment Payback Extended to 2021

By Heather Anderson

NCUA today announced the Temporary Corporate Credit Union Stabilization Fund has been extended to June 30, 2021, with the concurrence of Treasury Secretary Timothy F. Geithner.

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Legacy Assets Available to CUs

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VSoft, PMSC Offer Integrated RDC, Web Banking

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September 23, 2010

Pennsylvania CU Group Heads to Haiti

Nine months after the Haiti earthquake, the Pennsylvania Credit Union Association and its foundation are teaming up with Mid-Atlantic Corporate FCU to send a delegation to the country this Monday to assess aid help.

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September 23, 2010

NCUA Seizes Three Corporate Credit Unions

NCUA today placed three corporate credit unions into conservatorship: the $7.4 billion Members United Corporate FCU, the $9.5 billion Southwest Corporate FCU and the $1.2 billion Constitution Corporate FCU.

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September 23, 2010

Credit Unions Own Legacy Assets Upside and Downside

New securities issued from legacy assets will be guaranteed by NCUA, said Deputy Executive Director Larry Fazio.

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September 23, 2010

Legacy Asset Trust Will Prevent Write-Downs, Increase Transparency

NCUA will transfer the legacy assets from five seized corporates into a trust, and securitize them for investors from there.

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September 23, 2010

On-Site Coverage: Trades Have Mixed Reactions To NCUA Actions

ALEXANDRIA, Va. -- CUNA President/CEO Bill Cheney said today's actions were a good first step while NAFCU President/CEO Fred Becker said he was pleased and it could have been worse.

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September 23, 2010

NCUA: Some Corporates Can Retain Legacy Assets

Not all corporates that own legacy assets will be required to give them up to NCUA, according to final corporate rules posted online today.

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September 23, 2010

U.S. Central and WesCorp Shed Assets to Repay Treasury

NCUA's sale of $800 million worth of U.S. Central FCU and Western Corporate FCU securities announced yesterday wasn't part of the regulator's legacy assets plan.

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Top News Stories

Corporate Assessment Payback Extended to 2021

Legacy Assets Available to CUs

VSoft, PMSC Offer Integrated RDC, Web Banking

Recommended Just For You

News Stories

Pennsylvania CU Group Heads to Haiti

NCUA Seizes Three Corporate Credit Unions

Credit Unions Own Legacy Assets Upside and Downside

Legacy Asset Trust Will Prevent Write-Downs, Increase Transparency

On-Site Coverage: Trades Have Mixed Reactions To NCUA Actions

NCUA: Some Corporates Can Retain Legacy Assets

U.S. Central and WesCorp Shed Assets to Repay Treasury