News

NCUA issued a guidance letter to corporate credit unions today alerting corporate credit unions to housing concerns affecting mortgage backed securities.

A day after NCUA determined the $200 payments Wings Financial Federal Credit Union has said it will offer Continental FCU's members were impermissible, CUNA is still concerned that more is needed to handle unsolicited merger pursuits.

NAFCU said it is pleased with NCUA's position on Wings Federal Credit Union's $200 payments and is hoping it will end the financial institution's "hostile takeover bid" of Continental FCU.

Federal regulators issued a statement today urging financial institutions to work with homeowners in danger of falling behind in their mortgage payments as interest rate rise.

The planned merger of WesCorp with VolCorp included a capital payout plan whereby WesCorp would return VolCorp's member capital over a 20-year period.

Last month's merger announcement of Southwest Corporate and Northwest Corporate and yesterday's announcement of a potential WesCorp/SunCorp merger have corporate credit union leaders talking about the future of the network.