Following a clean financial statement audit report on the National Credit Union Administration, including the NCUA Board’s liquidation activities, an evaluation conducted by the liquidating agent determined that sufficient funds were available for Southwest Corporate Federal Credit Union’s (Southwest Corporate) AME MCA holders to receive a distribution in 2020. The liquidating agent approved a $171.3 million distribution payable in July 2020. This was a pro-rata distribution from the AME to credit unions holding Southwest Corporate MCA claim certificates, equating to a 42.46 percent return of the MCA balance.
This distribution was to the MCA claim holders of Southwest Corporate only; no MCA claimants of other corporate AMEs are eligible for a portion of the distribution. The distribution had no impact on the health or operating level of the Share Insurance Fund.