Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Webinars on SW Corporates biz model next week
PLANO, Texas (12/9/10)--Webinars are scheduled for Dec. 15 and 16 to explain recommendations for the Southwest Bridge Corporate FCU business model. The bridge corporate’s Member Advisory Council met Nov. 30 to review its executive committee’s recommended business model. Council members approved recommending the consolidated business model with Georgia Corporate FCU to all 1,400 Southwest Bridge Corporate members and presenting it to the NCUA for approval. Highlights of the approved business model include:
* Acquisition by Georgia Corporate FCU, via a purchase and assumption process, in the summer of 2011. The perpetual contributed capital (PCC) subscription period would be from February to June 2011. * The PCC formula is 0.25% of assets with a maximum cap of $750,000, a cap of $600,000 for credit unions between $240 million and $750 million in assets, and a proportional threshold for credit unions $50 million or less in assets. * The consolidated corporate will continue to offer all critical products, including the off-balance sheet services provided by owned credit union service organizations, including Southwest Corporate Investment Services and CU Business Group. * The size of the consolidated balance sheet will be reduced to between $2.6 billion and $3.3 billion to minimize the amount of required PCC, while ensuring the ability to provide sufficient lines of credit to meet settlement and access to contingency lines of credit.


RSS





print
News Now LiveWire
Sony hack linked to N. Korea, says U.S.intelligence via @nytimes http://t.co/fE3PtMgEFz
12 hours ago
.@CUNAMutualGroup Klewin shares final thoughts, forecast on lending regulations with @cumagazine before retiring http://t.co/v78QY3QwqB
15 hours ago
Current @CUNA COO @JillTomalin promoted to deputy chief of staff
16 hours ago
#CU Effect:@ChartwayFCU 'branch of the future' 2 benefit members, staff. 2nd installment of new News Now series here:http://t.co/ImBY4nupEj
16 hours ago
U.K. regulators have given formal authorization for the @c_of_e to form a #creditunion.
17 hours ago