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Corporate Crisis in Plain English

June 9, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) today posted online the first of three explanatory tracks to help credit unions better understand the history and prevailing situation involving the nation’s corporate credit union system.
Track 1 is available on NCUA’s website: http://www.ncua.gov/GenInfo/Members/Matz/MatzAnnouncement.aspx.
All three tracks will be posted online as soon as they are finalized. When complete, a DVD will be sent free of charge to all federally insured credit unions.
The complexities of distressed assets and market dislocations leading up to the corporate crisis are difficult to grasp, even by those familiar with the credit union system. This series of presentations is being produced to provide a broad overview, in simple terms, of various aspects of the corporate credit union crisis.
 Track 1 covers the history and services of corporate credit unions;
 Track 2 describes types of corporate credit union investments; how these investments were affected by financial market declines; and how problems with the investments affected corporates and threatened the entire credit union system.
 Track 3 focuses on NCUA efforts to stabilize the credit union system, ensure access to adequate liquidity and uninterrupted lending and payment processing, and achieve the least costly outcome for federally insured credit unions.
“The corporate credit union crisis has posed challenges for all facets of the credit union system. It is my strong belief that more information about the history, structure and function of the corporates will assist credit unions in making sound decisions about the future,” noted Chairman Debbie Matz. “I am confident that this series will benefit credit
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
Media Contact: NCUA Office of Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
union professionals and volunteers, and foster a greater understanding of the critical issues at hand.”
NCUA is the independent federal agency that regulates, charters and supervises federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of over 90 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

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