Why did NCUA conserve U.S. Central and WesCorp?
NCUA placed U.S. Central and WesCorp into conservatorship to conserve the credit unions assets and to protect the Share Insurance Fund and the interests of the members. NCUA took control to: reduce the systemic exposure given the estimated loss projections in both corporate credit unions; exert greater direct control over and improve the transparency of financial information; and maintain the confidence of member credit unions and payment system counterparties given the expected losses and credit rating downgrades.
