$368-million is about to be distributed to more than 2,000 credit unions

ALEXANDRIA, Va.­–More than a decade after the failure of five corporate credit unions, when any potential recoveries and distributions seemed so far away that many in credit unions wrote off their capital investments as a complete loss, more than $368-million is about to be distributed to more than 2,000 credit unions.

The funds will be paid out in April  Read More

 

Concerns CUs are Unaware

With one NCUA board member expressing concerns that many among the 2,000 CUs that are to see the funds are unaware the money is coming and haven’t planned for it, NCUA said it plans to send letters to distribution recipients notifying them of their amount and other payment details. The distribution will be made to credit unions generally through an electronic funds transferand additional information will be available here.