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The U.S. Central “Wind Down” - Why It Happened, What It Means

Corporates say they're ready; NAFCU's Becker says FOI request sent to NCUA to find out more.

By Robert McGarvey | Updated on December 23, 2011

Corporate credit unions scrambled to put into place responses to NCUA’s announcement Thursday that it had failed to find a buyer for conserved corporate U.S. Central Bridge’s ACH, Apex and related payments lines of business and would instead “wind down” those operations.

That decision by the regulator triggered the big question: how did this happen? A source with significant familiarity with the U.S. Central operations told Credit Union Times: “What U.S. Central had was not economically viable. Its services were priced out of the market.”

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