Editor’s Note: On Sept. 28, CO-OP issued a news release on the Sept. 24 actions of the National Credit Union Administration regarding corporate credit unions, which included finalizing new rules governing the corporates. The CO-OP position statement below is from that news release. We invite you to join the discussion of this important issue by leaving us a comment.
“After many years of partnering with the corporates, we reaffirm our confidence in the corporate system and believe it is still valid and valuable to the movement,” said Stan Hollen, President/CEO, CO-OP Financial Services. “CO-OP will continue to pursue an active role in the future of credit union payments, and we will seek partnerships to fulfill that goal with corporate credit unions and the natural-person credit unions that comprise their owner-members.
“As the leading credit union-owned CUSO, CO-OP Financial Services is keenly interested in playing a lead role in the transition of bridge corporate payments-related activities to other credit union industry providers,” said Hollen.
“We encourage our client credit unions and other industry colleagues to visit the Web site of the Credit Union National Association regularly at http://www.cuna.org to keep up to date on developments relating to corporate credit unions, and at http://www.co-opfs.org for CO-OP Financial Services’ own stand on this important issue,” said Hollen.