Catalyst Corporate has signed a letter of intent to consolidate with FirstCorp Credit Union this year, representing another step forward in the corporate's business model driven by efficiencies of scale and technological innovation.
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Catalyst Corporate Federal Credit Union has named 12 credit union professionals to serve as members of the western regional component of its newly-formed Catalyst Councils, including four from Oregon and Washington.
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The White House announced yesterday that it has withdrawn the nomination of Carla Leon-Decker to join the NCUA board of directors. Meanwhile, the NCUA reached settlement in its suit filed against HSBC, recovering $5.25 million.
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More than 1,000 credit unions have already capitalized Catalyst Corporate Federal Credit Union. New President and CEO Kathy Garner said the Strategic Link Annual Sponsor’s plan calls for low-cost, non-disruptive transitions.
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NWCUF board member Kathy Garner has been named the new president and CEO of Catalyst Corporate Federal Credit Union, replacing Diane Addington, who had filled the position since Catalyst was formed in September 2011.
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The NWCUA’s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here are updates on a recent GAO report and an NCUA data request.
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Catalyst Corporate explains how the NCUA’s intention to wind down the remaining components of U.S. Central Bridge Corporate—especially payment services such as ACH, automated settlement and international wires—will affect credit unions.
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Catalyst Corporate Federal Credit Union will conduct a series of town hall meetings in January and February to help credit unions transition from Western Bridge Corporate.
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The NCUA reached separate settlements this week with Citigroup and Deutsche Bank Securities regarding the sale of residential mortgage-backed securities to five wholesale credit unions. Net proceeds will go toward reducing assessments charged to credit unions to pay for the losses.
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Unless it hears concerns about making the comments public on or before June 10, the NCUA will post all comments on its website. Comments on the prepayment program accepted until June 20.
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