NCUA to distribute $865M under Corporate System Resolution Program

by NAFCU Newsroom

The NCUA Monday announced it will distribute $865 million to the 1,800 membership capital account holders of the former Members United, Southwest Corporate, and U.S. Central corporate credit unions. In addition, the agency announced the end of its NCUA Guaranteed Notes program.

“This third round of distributions is the largest to date and another milestone in the NCUA’s successful management of the Corporate System Resolution Program,” said NCUA Chairman Todd Harper in a press release. “As we wind down the remaining corporate credit union asset management estates, the NCUA will continue to conduct an orderly liquidation of the remaining assets and aggressively pursue legal recoveries while optimizing returns.”

As liquidating agent of the former corporate credit unions’ asset management estates, the NCUA has previously made two other rounds of distributions. The breakdown of distribution – as of December 2019 – is available on the NCUA’s website.

 

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