- In January 2009, the federal government provided a $1 billion bailout to the U.S. Central Corporate Federal Credit Union, according a Jan. 29, 2009, article in the Washington Post. The bailout, the Post reported---citing the National Credit Union Administration---protected almost 90 million Americans who belong to a retail credit union.
- The reason for the U.S. Central Corporate FCU bailout was one that many banks share. U.S. Central invested and lost money in mortgage-related securities. If U.S. Central runs out of money, the financial health of the credit unions it serves could be in jeopardy.
- In a related move in January 2009, federal regulators guaranteed $80 billion in uninsured deposits at the corporate credit unions. The move was intended to stop the trend of retail credit unions withdrawing from the corporate system, according to a Wall Street Journal article quoting Michael E. Fryzel, who at that time was the NCUA's chairman.
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