ARLINGTON, Va. – The National Cooperative Bank and The Members Group, a subsidiary of the Iowa league, yesterday formalized an agreement in which the NCB will provide for the delivery of correspondent services to Iowa credit unions.
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As Credit Union Journal reported in November, 2010 when the relationship was first announced, the agreement is designed to fill the void of services provided by Iowa Corporate Credit Union, which is being wound down. The agreement “delivers an economically attractive solution to Iowa credit unions that offers better rates than the Fed and keeps the cost of services generally consistent with pricing today,” the two organizations said in a statement.
