NCUA to distribute $569M under corporate system resolution program

by CUNA News

NCUA, in its role as liquidating agent, announced a $359.2 million distribution to more than 1,000 membership capital shareholders of the former Members United, Constitution, and U.S. Central corporate credit unions. NCUA will also distribute $209.8 million in dividends to more than 1,100 shareholders of Southwest Corporate. NCUA completed capital distributions to Southwest Corporate capital holders last year.

NCUA has previously made three rounds of distributions as liquidating agent of the former corporate credit unions’ asset management estates.

In 2020 and 2021, capital holders of Southwest, Members United, and U.S. Central received distributions. Member capital shareholders of Constitution corporate credit union will also receive the latest round of distributions, scheduled to occur before the end of March 31, 2022.

With this fourth distribution, the NCUA will have returned over $1.8 billion to former membership capital shareholders and $209.8 million in dividends to shareholders.

 

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