Friday, June 26, 2020

Capital Holders of Southwest Corporate FCU Will Receive $171.3 Million Distribution

On June 25 during a briefing on NCUA Guaranteed Notes Program, the President of the National Credit Union Administration’s Asset Management and Assistance Center stated that the capital holders of Southwest Corporate Federal Credit Union will receive a distribution of $171.3 million in July.

This payout equals 42 percent of $403.5 million in claims of capital account holders of the failed corporate credit union.

The Southwest Corporate asset management estate has 1,120 member capital account holders, including 1,092 credit unions. After accounting for mergers, purchases and acquisitions, and liquidations, almost 900 active credit unions will receive a distribution.

Southwest Corporate Federal Credit Union was liquidated on October 31, 2010.

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