On March 18, 2021, the NCUA announced an interim distribution representing a partial recovery to capital holders of the U.S. Central, Members United and Southwest Corporate Asset Management Estates (AMEs). Alloya has received several inquiries from its membership following this announcement and will be hosting an educational webinar on April 12, 2021 to provide additional details regarding resolution of the Estates.
Alloya holds an interest in the U.S. Central AME and expects to receive a partial distribution by April 30, 2021 with the remaining projected distributions to be received in 2022 or later.
Alloya does not have an interest in the Members United or Southwest Corporate AMEs. Credit unions that hold an interest in those AMEs will receive distributions directly from the NCUA. The WesCorp AME continues to project zero value while the Constitution AME shows a positive projected value with distributions projected to begin in 2022.
In anticipation of these distributions, Alloya’s Board of Directors declared a record date of March 17, 2021 for future Special Dividends associated with receipt of U.S. Central AME funds on Alloya’s Perpetual Contributed Capital (PCC).
For additional information regarding the educational webinar and open forum to be held by Alloya’s management team on April 12, 2021, please visit www.alloyacorp.org/asset-management-estates.
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