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CUNA has developed a comprehensive white paper on capital reform for credit unions, a topic whose importance has only increased by the nation’s recent years of economic upheaval and the current focus on Basel III proposed international capital standards.

WASHINGTON (9/29/10)–CUNA President/CEO Bill Cheney took to the airwaves to correct the misperception that credit unions are being “bailed out” by the NCUA’S recently released corporate credit union and legacy asset plans.

The new leaders of recently conserved Southwest Corporate FCU, Members United Corporate FCU and Constitution Corporate FCU were revealed by the National Credit Union Administration on Tuesday.

California credit unions’ second-quarter financial report card reflects a troubled economy, said an industry analyst.

During second quarter of 2010, roughly 1,146 robberies and incidental crimes affecting financial institutions were reported to the Federal Bureau of Investigation (FBI). Of those, 85 or 7% were at credit unions.

Southwest Corporate FCU–one of three corporate credit unions placed in conservatorship Friday–will update its member credit unions in a webinar Thursday at 3 p.m. CT. It also announced its annual Economic Forum will go on as scheduled.

The coming resolution of the corporate credit union legacy asset situation is covered in the most recent NCUA corporate video presentation.

The credit union movement responded over the weekend to the National Credit Union Administration’s announcements about its final corporate rule, the conservatorship of three corporate credit unions, and its plan to isolate and securitize the corporates’ “legacy assets.”

Credit union leagues and associations from several states have formed separate corporate task forces following the National Credit Union Administration’s announcement Friday of corporate rule changes and conservatorship of three corporate credit unions.