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News Now

CU System
Members United building corporate of the future
WARRENVILLE, Ill. (4/19/11)--Members United Bridge Corporate FCU is "now beginning the formal process of building your new corporate of the future," its members were told Friday. John Fiore, chairman of the Members Advisory Council (MAC) for the Warrenville, Ill.-based corporate, posted a letter to member credit unions Friday announcing that the bridge corporate received a letter from the National Credit Union Administration's (NCUA) Office of Corporate Credit Unions, which stated it has no objection to Members United Bridge's capital plan. The corporate filed its capital plan with NCUA on March 18. NCUA's letter said that based on the information provided it would have no objection to the plan. "We are working with our attorneys to complete the private placement memorandum," said Fiore, who advised members to watch the MAC website for continuing developments, as well as the "posting of various documents as they become available." The new corporate credit union will retain the assets, people, processes, products and services of Members United Bridge.


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