{"id":259372,"date":"2009-03-21T09:13:00","date_gmt":"2009-03-21T09:13:00","guid":{"rendered":"http:\/\/new.moldova.org\/2009\/03\/21\/u-s-seizes-two-wholesale-credit-unions-190922-eng\/"},"modified":"2009-03-21T09:13:00","modified_gmt":"2009-03-21T09:13:00","slug":"u-s-seizes-two-wholesale-credit-unions-190922-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/u-s-seizes-two-wholesale-credit-unions-190922-eng\/","title":{"rendered":"U.S. seizes two wholesale credit unions"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Two large wholesale credit unions with combined assets of $57 billion have been seized by U.S. financial regulators, officials said.<\/p>\n<p>The National Credit Union Administration said Friday it had taken over the U.S. Central Federal Credit Union in Lenexa, Kan., and Western Corporate Federal Credit Union in San Dimas, Calif., CNN\/Money reported.<\/p>\n<p>The administration said in a statement that the two credit unions were placed under conservatorship <q>to stabilize the corporate credit union system and resolve balance sheet issues.<\/q><\/p>\n<p>CNN\/Money reported that U.S. Central Federal Credit Union claimed about $34 billion in assets spread over 26 retail corporate credit union members, while WesCorp has $23 billion in assets and approximately 1,100 retail credit union members.<\/p>\n<p>NCUA officials said the two credit unions had <q>an unacceptably high concentration of risk.<\/q><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>U.S. seizes two wholesale credit unions<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-259372","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Two large wholesale credit unions with combined assets of $57 billion have been seized by U.S. financial regulators, officials said.<\/p>\n<p>The National Credit Union Administration said Friday it had taken over the U.S. Central Federal Credit Union in Lenexa, Kan., and Western Corporate Federal Credit Union in San Dimas, Calif., CNN\/Money reported.<\/p>\n<p>The administration said in a statement that the two credit unions were placed under conservatorship <q>to stabilize the corporate credit union system and resolve balance sheet issues.<\/q><\/p>\n<p>CNN\/Money reported that U.S. Central Federal Credit Union claimed about $34 billion in assets spread over 26 retail corporate credit union members, while WesCorp has $23 billion in assets and approximately 1,100 retail credit union members.<\/p>\n<p>NCUA officials said the two credit unions had <q>an unacceptably high concentration of risk.<\/q><\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/u-s-seizes-two-wholesale-credit-unions-190922-eng\/' data-heateor-sss-no-counts=\"1\"><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" 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