Two corporate credit unions were seized Friday by the National Credit Union Administration. U.S....

|By:, SA News Editor
Two corporate credit unions were seized Friday by the National Credit Union Administration. U.S. Central Corporate Federal Credit Union, in Lenexa, Kansas, and Western Corporate Federal Credit Union in San Dimas, California, were put into conservatorship after failing stress tests that found an “unacceptably high concentration of risk” from mortgage-backed securities. Combined assets of the two: $57B. [NCUA statement]