Not satisfied with the NCUA's level of transparency on the financial problems of U.S. Central and WesCorp, some of the leaders of the largest credit unions are trying to raise $250,000 to study the securities held by the two corporates.
The study's goal would be "catalogue the securities held by the two coprorates and perform an in-depth analysis of a few of the most troubled securities," National Credit Union Roundtable Advisory Chairman Rod Staatz wrote in an e-mail sent to other Roundtable members obtained by Credit Union Times.
He asked for $2,000 from each of the 250 credit unions in the Credit Union Roundtable, which is made up of the largest credit unions by asset size.
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