ARLINGTON, Va.-The National Cooperative Bank is bolstering CUs' bottom lines by helping them offload deposits and access liquidity.
Bill Stewart, CU market leader, said NCB's services are needed for reasons that are no secret: few credit unions or their corporates are hungry for deposits.
"Our correspondent services are in much greater need today," he said. "We have great loan and deposit rates that credit unions and CUSOs can't find many other places. We are still wanting deposits at a time when the corporates are trying to reach certain regulatory ratios and driving some deposits off their books."
For info: NCB: http://www.ncb.coop/.