Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Corporate Credit Unions: Condition, Issues, and Concerns

  Premium   Download PDF Now (22 pages)
Report Type Reports and Testimonies
Report Date Oct. 6, 1994
Report No. T-GGD-95-15
Subject
Summary:

Thousands of insured credit unions have placed about $30 billion--a substantial part of their unloaned deposits--in the 44 corporate credit unions for investment purposes. This concentration of credit union assets represents a large potential risk to the National Credit Union Share Insurance Fund, so the safe and sound operation of corporate credit unions is a necessity. This testimony highlights the combined financial condition of these institutions, their investment policies and practices, and current issues they are facing. GAO also discusses potential problems that could affect the financial health of the corporate credit unions, the credit union industry, and the Insurance Fund.

« Return to search Government Accountability Office reports