Search
 

FirstCorp divests its share of ownership of Arizona Credit Union League Services Corp.

PHOENIX, Ariz. - FirstCorp, the 22nd largest corporate in the U.S., has divested its share of ownership of the Arizona Credit Union League Services Corporation. FirstCorp has owned 50% of the service corporation and the Arizona Credit Union League has owned the remaining half. The two organizations have had an...

By Staff Writer | Updated on July 24, 2001

PHOENIX, Ariz. – FirstCorp, the 22nd largest corporate in the U.S., has divested its share of ownership of the Arizona Credit Union League Services Corporation. FirstCorp has owned 50% of the service corporation and the Arizona Credit Union League has owned the remaining half. The two organizations have had an equal number of representatives on the ACULSC Board, and they’ve each had a shareholder representative who has been allowed to attend board meetings but not had voting rights. FirstCorp President/CEO Pete Pritts said the divestiture decision “is no reflection on our relationship with the service corporation. It is simply a move prompted by NCUA’s interlock regulatory decision in the mid-1990s.” Pritts said FirstCorp and the Arizona Credit Union League Services Corp. are already talking about other joint ventures. FirstCorp has $658.7 million in assets, as of February 2001.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.