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No Surprises in Members United's July Financials

The $8.9 billion Members United Corporate Federal Credit Union didn't include any shockers in its July 2009 financial statements, released earlier today.

By Heather Anderson | Updated on August 26, 2009

The $8.9 billion Members United Corporate Federal Credit Union didn’t include any shockers in its July 2009 financial statements, released earlier today. Member credit unions had already been informed the Warrenville, Ill.-based corporate would record $81 million in U.S. Central member capital account depletions in July, so the reported $78 million net loss for the month was expected.

In fact, the most interesting information in the financial reports pertained to the continued deterioration of monoline insurers, which sold credit enhancements to several corporates to guarantee timely payments of interest and principal on structured investments.

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