The NCUA announced Monday that it will be distributing $76 million to paid-in capital shareholders of the former U.S. Central corporate credit union, which was liquidated in 2010 after its failure during the Great Recession.
As the liquidating agency, the payment marked the seventh time the NCUA has used funds from the Corporate System Resolution Program, which was created by the NCUA board to stabilize, resolve and reform the corporate credit union following the economic collapse of five corporate credit unions after the 2008 financial crisis.
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