The corporate credit union market share in 2007 was about 20%. As of July 2010, it was down to 7.7%.
"That share is at a 30-year low and indicates that credit unions are vacating the corporate credit union system en masse," said Charles Felker, managing director of regulatory services at First Empire Securities Inc. and managing director of Balance Sheet Management and Consulting Services Inc. "What's happened during this period of time to accelerate the exodus of this, if you will, was the corporate meltdown. That served to accelerate the exodus. If you wanted to go back about 20 years, corporates held almost 50% of the investments of credit unions. This is my own personal recollection."
Felker, who also served as a former NCUA chief investment officer, said that the gradual loss of market share is something that has been in the works for many years but has accelerated in recent years.
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