ALEXANDRIA, Va.-NCUA has scheduled a series of 11 Town Hall meetings across the country in October in order to discuss the new rules relating to corporate credit union operations and corporate legacy asset resolution.

October Is National Co-Op Month

BIRMINGHAM, Ala.-Actions taken by NCUA to place three more corporates into conservatorship and the agency's new corporate proposal are "well thought out, bold" and were needed to be done to further protect natural-person CUs and their members, Corporate America CEO Thomas Bonds said.

WASHINGTON-Corporate credit unions must change their business model, remove complexity, and take further steps to control costs as a result of the new corporate rule.

Competition from banks and captive lenders combined with declining new car sales have more CUs increasing their emphasis on used car financing.

WASHINGTON-NCUA has said credit unions keeping their funds at their corporates will be vital to the success of the corporate rescue plan-but will credit unions be willing to do so?

October

CEFCU had a stellar 2009 and continues to prosper in the first half of 2010, earning it a spot on the Credit Union Journal Leader Board.

WASHINGTON-In its analysis of NCUA's new rules for corporates, CUNA said it is most concerned with the costs of dealing with so-called "legacy assets" and the resulting impact on credit unions, according to Mary Dunn, head of regulatory compliance.

BIRMINGHAM, Ala.-Thomas Bonds surmised that NCUA's actions strongly signal a consolidation of the corporate system looms in the future.

RANCHO CUCAMONGA, Calif.-As the next few years unfold and NCUA pursues its plan to create "bridge" corporates as a means of executing its vision for the role the agency sees corporates eventually playing, CO-OP Financial Services said it will be seeking to play a role.

ALEXANDRIA, Va.-NCUA's newly passed corporate rules are expected to unleash a major restructuring of the corporate credit union network that will entail consolidation of the disparate group of 28 regional corporates. The question to be settled is who will lead that effort?

GREENSBORO, N.C.-The CEOs of a number of corporate CUs said they believe the requirements and deadlines NCUA has set in its new corporate plan will be achievable.

ALEXANDRIA, Va.-NCUA has outlined the "good bank/bad bank" model under which four of the five conserved corporates will be transitioned to "bridge corporates."

The 13.6% decline in credit union new car loan balances may signal CU market share is returning to more "normal" levels than what occurred during 2009.

WASHINGTON-NCUA outlined four potential futures for the corporate credit unions that have been taken into conservatorship. The question now is which of these alternatives will win out.

NCUA Guaranteed Notes Prospectus Out October 12

MARION, Ind.-Before Kibbey turned the reins over on Aug. 31 to EVP John McIntyre, he took time to speak with Credit Union Journal to reflect on his career, credit unions and more.

GREENSBORO, N.C.-In the near future corporate credit unions will revert to their "core purpose," believes David Brehmer, president of First Carolina Corporate CU.

ALEXANDRIA-In what proved to be a rare moment of levity during the webinar, one participant asked why NCUA didn't just make the conserved corporates convert to banks, to which NCUA Chairman Debbie Matz laughingly replied, "The FDIC is not stupid, they wouldn't take them."