ONTARIO, Calif.-Representatives from several credit unions in the western states and in New York announced the formation of Corporate Realignment Task Forces, which they said will devise a cost-effective, cooperative structure to provide CUs with essential services that historically have been provided by corporate credit unions.
In the western U.S., the Corporate Realignment Task Force said it will determine which related services credit unions need and will support, and create a "sound, cooperative system to provide those essential continuing services." Critical services that will be examined include: item processing, payment system and settlement services, short-term liquidity associated with the settlement process, and, possibly, investment advice and other related permissible services.
The task force will be chaired by Jeff York, CEO of CoastHills FCU, Lompoc, Calif. York also is chairman of the California CU League board.
