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In Slogging Our Way to Survival, We Must All Hang Together

As I write this, the entire credit union industry is jittery with anticipation regarding Friday, Sept. 24 with the corporate credit union regulation and legacy asset plan and possible execution of it.

By Sarah Snell Cooke | Updated on September 28, 2010

As I write this, the entire credit union industry is jittery with anticipation regarding Friday, Sept. 24 with the corporate credit union regulation and legacy asset plan and possible execution of it.

Some have suggested a scenario where the so-called legacy assets might go straight to market. Realizing the as-yet unrealized losses without some sort of government guarantee will tack on a $10 billion premium for federally insured credit unions. If that’s to be the case, credit unions’ current estimated assessment over the next seven years of 15 basis points per year will rise to 25 basis points a year.

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