Update on the Southwest Capital Distributions

According to Asset Management and Assistance Center President Keith Morton, the National Credit Union Administration staff will be giving its Board an update on the NCUA Guaranteed Notes (NGN) program in March or April of this year, including any potential interim distributions to the former members of Southwest Corporate.

As you may recall, Morton made a presentation to the NCUA Board in March 2020, where he indicated that $171.6 million would be distributed as an interim distribution.

Last year in July, members of Southwest Corporate received a distribution that was 42% of their prorated balance via ACH.

For more information, please refer to the NCUA website at the following link and tune in to future NCUA Board meetings where these topics will be discussed. Or visit NCUA’s FAQs page.