HARRISBURG, Penn. — Mid-Atlantic Corporate FCU issued a statement to its members that read, in part, "To date the investments that Mid-Atlantic Corporate holds with U.S. Central have continued to earn dividends, and we plan on holding them to maturity. Also those deposits are guaranteed under NCUA's extended guarantee of corporate deposits. Mid-Atlantic Corporate will maintain our normal practices of analyzing and evaluating portfolio valuation and risk, and the corporate will continue to look to various investment sources as our U.S. Central investments mature.
"Mid-Atlantic has been moving to even greater diversification of our portfolio over the past year. We look to multiple resources and have maintained our conservative approach to our investment philosophy. Mid-Atlantic has not invested directly in RMBS (Retail Mortgaged backed securities), CDOs (Collateralized Debt Obligations), or SIVs (Specialized Investment Vehicles). We have no direct risk with these types of securities because we do not hold them in our portfolio."
