NCUA LETTER TO CREDIT UNIONS
NATIONAL CREDIT UNION ADMINISTRATION
1775 Duke Street, Alexandria, VA 22314
| DATE: | March 2012 | LETTER No.: | 12-CU-03 |
| TO: | Federally Insured Credit Unions | ||
| SUBJ: | Temporary Corporate Credit Union Share Guarantee Expires December 31, 2012 | ||
Dear Board of Directors and Chief Executive Officers:
We are entering the final phase in the successful stabilization of the corporate credit union system.
By the end of this year, all products and services offered by conserved corporate credit unions will be seamlessly transitioned to other providers – with no interruption of service to members.
In the meantime, all ongoing corporate credit unions are meeting NCUA’s higher regulatory standards for capital, investments, and governance.
We are entering the final phase in the successful stabilization of the corporate credit union system.
By the end of this year, all products and services offered by conserved corporate credit unions will be seamlessly transitioned to other providers – with no interruption of service to members.
In the meantime, all ongoing corporate credit unions are meeting NCUA’s higher regulatory standards for capital, investments, and governance.
***READ COMPLETE LETTER; Temporary Corporate Credit Union Share Guarantee Expires December 31, 2012
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