NCUA, Members United Brief Execs on Corporates

NCUA Region 1 Associate Regional Director of Operations Anthony LaCreta and Members United Corporate FCU’s Senior Vice President Victor Vrigian briefed more than 45 credit union executives on the NCUA Corporate Stabilization Plan during a March 12 meeting at the Credit Union Association of New York’s headquarters in Albany.Executives of the association also participated by informing attendees about additional resources and providing a legislative briefing.“Getting together with like-size credit unions in a venue like today’s gives us the opport6unity to talk, ask questions and reinforce our message so that we speak with one voice when commenting collectively and independently on NCUA’s Corporate Stabilization Plan,” said Barry Stilwell, president/CEO of Canandaigua Federal Credit Union.The stabilization plan is made up of a $1 billion capital infusion into U.S. Central and having the NCUSIF guarantee deposits by natural person credit unions in corporate credit unions. The NCUA is also seeking input from interested parties by April 6 on its advanced notice of proposed rulemaking on ways to restructure the corporate credit union system.

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