WARRENVILLE, Ill. – Members United Corporate FCU, struggling with huge losses on its investments, said yesterday it is closing down its Members Health Network CUSO for lack of funding.
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Members Health was launched in June 2007 to help credit unions compete more effectively in attracting Health Savings Accounts to their balance sheets.
Over the past several months, Members Health has attempted to raise additional capital directly from the credit union community to continue operations. It has been unsuccessful in gaining supporters, which is understandable given the costs surrounding the corporate stabilization plan and the uncertainties of a weakened economy, the corporate said.
