New NCUA Letter to Credit Unions: 09-CU-10
May 26, 2009 – Randall C. Smith, Managing Editor
The NCUA released a new letter to credit unions. The purpose of the letter is to respond to the many inquiries from members concerning their “paid in capital” (PIC) and “membership capital” (MCA) accounts at the corporates, and how those accounts are applied to absorb losses that U.S. Central and WesCorp are each required to recognize.
View full letter at CUiNSIGHT.com
Tuesday, May 26, 2009
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