Catalyst Assumes Capital, Liabilities After Western Bridge’s Formal Liquidation

Northwest credit unions lost millions in interest income last year when the NCUA forced early redemption of CDs held by WesCorp. Its successor, Western Bridge, was formally liquidated last month, and Catalyst now holds a handful of unredeemed CDs.

NCUA Stings NW CUs with Early Redemption of Corporate CDs

Northwest credit unions will lose millions of dollars in interest income as the result of the forced early redemption of term certificates deposited in WesCorp.