Sunday, July 8, 2012

Western Bridge Corporate Closed

The National Credit Union Administration (NCUA) announced that Western Bridge Corporate Federal Credit Union (Western Bridge) of San Dimas, Calif. was closed on July 6.

Catalyst Corporate Federal Credit Union of Plano, Texas completed the migration of Western Bridge’s 326 capitalizing members ($50.3 million capital contributed) and services last week.

NCUA conserved the former Western Corporate Federal Credit Union in 2009 and created Western Bridge in 2010 to ensure continuity of service and operations for member consumer credit unions. In 2011, the members of Western Bridge initially sought but failed to capitalize a new corporate credit union, United Resources Corporate Federal Credit Union.

Read the press release.
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