Declaring the existing business model to no longer be viable, the CUNA Corporate Credit Union Task Force today released a report that asks CUNA's GAC and board to support a radically pared down corporate system.
Noting that credit unions are unwilling to recapitalize corporates and "several groups of credit unions" are organizing their own cooperatives to replace them, the 13-person panel called for corporates to be limited to settling and payments services, and meeting short to medium term liquidity needs.
Corporate investment services would be limited to agent or advisory roles, with investments remaining on natural person credit union balance sheets.
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