ANPR comments include a complete corporate system overhaul recommended by a consortium of 12 large credit unions.
Lead by Chairperson Dennis Pierce, CEO of the $1.6 billion Community America Credit Union, the Corporate Credit Union Stabilization Partnership advocates only three corporate entities: one corporate that provides short-term investments and liquidity services, a broker/dealer that provides long-term investments, and a CUSO that handles long-term liquidity products like loan securitizations and participation loans.
The 105-page document claims the plan would save $250 million in annual expense savings. Additionally, the remaining stripped-down corporate would not only break even, it could generate net income as high as $164 million annually.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.