ARLINGTON, Va.-While NCUA wound down both Western Bridge Corporate FCU and U.S. Central Bridge Corporate FCU this year, the agency has yet to sell the buildings that were home to the former corporate giants.
NCUA reported that it still owns U.S Central's headquarters in Lenexa, Kansas, and two buildings and a vacant lot in San Dimas, Calif., the site of WesCorp's former campus. NCUA did not share any plans for the future sale of the holdings. In October the agency confirmed a sales agreement was reached for U.S. Central's office, but at the time would not disclose a buyer, a sales price or date of closing (CU Journal, Oct. 8).
NCUA took over both institutions in March of 2009, eventually closing Western Bridge this year in July and U.S. Central in October. The failure of WesCorp and U.S. Central, combined with the collapse of Members United Corporate FCU, Southwest Corporate FCU and Constitution Corporate FCU is expected to cost credit unions as much as $20 billion to resolve, including $5 billion alone for U.S. Central.