Corporate credit unions

ALEXANDRIA, Va. – NCUA announced yesterday it is extending the expiration date of its Temporary Corporate Share Guarantee Program, which is guaranteeing all deposits in corporate credit unions, for another three months, until Dec. 31, 2011.

MUSKEGO, Wis. – Buffeted by losses on their U.S. Central FCU capital, Corporate Central CU said Friday it raised $47.4 million in new paid-in-capital.

LENEXA, Kan.-Hours after U.S. Central FCU reported a massive $1.1-billion loss for the first half of the year its corporate members began accruing losses to their own capital in U.S. Central - an additional $500 million - some of which will be passed on to their own natural person credit union members in the coming months.

LYNCHBURG, Va. – Even as U.S. Central FCU is reporting an additional $500 million depletion in their capital, several corporate credit unions are deferring the trickle-down depletion of their own capital until the release the long-awaited 2008 financials for U.S. Central, which are expected to show additional losses.

TALLAHASSEE, Fla. – Southeast Corporate FCU said it will pass on about $6.1 million in charges from the loss of its capital in U.S. Central FCU to its 430 credit union members.

ALEXANDRIA, Va. - NCUA announced Friday it is pulling the funds for the Central Liquidity Facility, the industry’s $40 billion emergency loan fund, from deposits at troubled U.S. Central FCU and will invest them instead in U.S. Treasury securities.

CHICAGO – Corporate credit unions began discounting hundreds of millions of dollars of their membership capital Friday afternoon, hours after U.S. Central FCU announced a staggering $1.1 billion loss for the first six months of the year.

LENEXA Kan. – U.S. Central FCU today reported a $470.5 million loss for the second quarter, pushing first half losses to $1.1 billion.

LENEXA Kan. – U.S. Central FCU today reported a $470.5 million loss for the second quarter, pushing first half losses to $1.1 billion.

PROCTOR, W.V. — Before Bob Burrow was elected to the board of Corporate One FCU in April, he had reservations about taking on the risk of overseeing a corporate credit union with all the problems the system has been experiencing.

NATIONAL HARBOR, Md. — Credit union executives are doubtful the $6-billion tab they will be paying for the corporate bailout over the next seven years will be enough to resolve the corporate meltdown and most are expecting additional charges.

SAN DIMAS, Calif. – Corporate credit unions yesterday reported soaring losses on their troubled mortgage securities, which will lead to additional charges at natural person credit unions over the coming weeks and months.

SAN DIMAS, Calif. – WesCorp FCU this afternoon reported a massive $538 million loss for the month of June, due to $541.1 million of other-than-temporary impairment charges recorded on its mortgage securities.

SAN DIMAS, Calif. – WesCorp FCU this afternoon reported a massive $538 million loss for the month of June, due to $541.1 million of other-than-temporary impairment charges recorded on its mortgage securities.

COLUMBUS, Ohio – Corporate One FCU yesterday reported an $8.2 million loss for the first six months of the year, which it attributed to $17.1 million of charges on its mortgage-backed securities.

NATIONAL HARBOR, Md. – Credit union executives are doubtful the $6 billion tab they will be paying for the corporate bailout over the next seven years will be enough to resolve the corporate meltdown and most are expecting additional charges.

SAN DIMAS, Calif. — Credit union executives are angry at the payout of Bob Siravo, the former CEO of WesCorp FCU, who received a $6 million payout after he was fired when NCUA took the $34 billion corporate under conservatorship.

BIRMINGHAM, Ala. — With the returns being paid by corporate credit unions lagging some other alternatives, the question of whether to invest in corporates varies among natural-person CUs, according to CEOs and CFOs interviewed by Credit Union Journal.

SAN DIMAS, Calif. – Credit union executives are angry at the payout of Bob Siravo, the former CEO of WesCorp FCU, who received a $6 million payout after he was fired when NCUA took the $34 billion corporate under conservatorship.

WASHINGTON – NCUA Chairman nominee Deborah Matz promised stronger oversight of the corporate credit union system during confirmation hearings before the Senate Banking Committee yesterday and denied a role in the agency’s easing of corporate restrictions.