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NCUA Announces Bidders’ Meeting for U.S. Central Bridge Operations

​ALEXANDRIA, Va. (Sept. 23, 2011) – The National Credit Union Administration (NCUA) will host a meeting at 1 pm central Oct. 3, for parties interested in acquiring U.S. Central Bridge Corporate Federal Credit Union (U.S. Central Bridge) operations. U.S. Central Bridge is a wholesale operation that provides correspondent banking services to corporate credit unions.

“This meeting is an important first step in the process for potential acquirers to learn about U.S. Central Bridge’s operations and the process for submitting a proposal to acquire operations,” said Scott Hunt, agent for the conservator of U.S. Central Bridge. “NCUA seeks a solution that minimizes disruption to U.S. Central Bridge members and their downstream credit union members, while minimizing costs to the Corporate Stabilization Fund.”

NCUA is currently finalizing plans to hold the meeting in the Kansas City, Missouri area.  Interested parties must execute a confidentiality agreement with NCUA to attend this meeting as well as receive information material about U.S. Central Bridge’s operations. Please contact corporate field supervisor Victoria Nahrwold at vnahrwold@ncua.gov to request the required confidentiality agreement and obtain specific information on the meeting location.



NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"