Inside Cornerstone

The National Credit Union Administration, in its role as liquidating agent, announced on Monday an $865.5 million distribution to the 1,800 membership capital accountholders of the former Members United, Southwest Corporate, and U.S. Central corporate credit unions.

On June 23, President Joe Biden designated Sandra L. Thompson as acting director of the Federal Housing Finance Agency. The appointment came hours after Biden ousted the agency’s previous director, Mark Calabria.

Through a live audio webcast, the National Credit Union Administration board held its sixth open meeting of 2021 and unanimously approved a final rule that would phase in the day-one adverse effects on regulatory capital that may result from the adoption of the current expected credit losses (CECL) accounting methodology over a three-year period.

World Council of Credit Unions’ board of directors has selected Elissa McCarter LaBorde as the organization’s new president and chief executive officer.

Endurance Federal Credit Union in Duncan, Okla., awarded three local charities with funds that were raised at the 12th Annual Charity Golf Tournament.