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Resource ID: #12721
Subject: Banks
Source: United Communications Group
Affiliation: 
Date: 

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Description

Credit Unions invest part of their depositors' money in the money market. To do this, they give the money to an institutional funds manager. A regional institution called Capital Corporation was such a manager, serving 160 credit unions throughout the U.S. Three months before "CapCorp" failed, the National Credit Union Administration regulators rate it "safe." Credit Union Information Service discovered that CapCorp was on the verge of failure due to investments it had made. (Jan. 2, 16, 30, Feb. 13, April 24, May 8, & Sept. 11, 1995)

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