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NCUA Places 3 More Corporate Credit Unions Into Conservatorship

Friday, September 24, 2010 - 6:48 PM
From the NCUA's press release:
The National Credit Union Administration today assumed control of three undercapitalized corporate credit unions, announced a plan to isolate the impaired assets in the corporate credit union system, and finalized a set of stronger regulations – key elements in its efforts to resolve the financial challenges facing corporate credit unions without disrupting consumer service.

Last year the NCUA had placed two other large corporate credit unions into conservatorship. Note, these corporate credit unions don't directly serve individuals. However, it might cause the NCUA to increase the premiums they charge to regular credit unions. That added cost on credit unions won't help our deposit rates any.
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,699
1. Monday, September 27, 2010 - 9:00 AM
depmikedepmike2 posts since
Sep 27, 2010
Rep Points: 2
2. Monday, September 27, 2010 - 9:05 AM
please check my math

9 billion divided by 7,445 member credit unions = $1,208,865.00

Is that a manageable burden for most CUs?
depmikedepmike2 posts since
Sep 27, 2010
Rep Points: 2