Development plan calls for credit unions in difficulty to merge

CREDIT unions in difficulty should merge with larger operations according to a plan proposed for the movement.

A group of credit union members, the Credit Union Development Association (CUDA), published a white paper on the future of the movement yesterday.

The group proposes a “central liquidity facility” where credit unions would deposit a portion of surplus funds. These deposits would remain on their balance sheet as an asset and, according to CUDA, would attract a competitive return.