First Corporate Credit Union President/CEO Pete Pritts said his members' reactions to the U.S. Central/WesCorp conservatorships have been a "full range of emotions, from anger, fear, and disappointment, to the desire to rally and fight together and come out strong on the other end."
There isn't a clear majority of opinion among the $709 million corporates' members. Only one member credit union has asked to explore options that challenge the NCUA's actions, he said.
"I think the most consistent feeling is that they took the first hit with U.S. Central, and now they're taking another hit, and the thing everybody is realizing is that not only did they have capital risk at First Corp, but their capital is also at risk when another corporate is taken under conservatorship," he said.
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