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 Westcorp next Lehmann Brothers for CUs? View next topic
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ghpacific
Flash in the pan


Joined: 12 Dec 2007
Posts: 30

Westcorp next Lehmann Brothers for CUs?
PostPosted: Sat Mar 28, 2009 4:08 pm Reply with quoteBack to top

I just learned that former Westcorp (merged by Wachovia in 3/2006) was the principle investment advisor for the majority of credit unions in CA and a local CU board member is really concerned their and most CU's safe, conservative (sound familiar?) assets are toast. Anyone have insight into this and willing to share? We belong to one of the safest CUs in CA, but who can say? Shocked
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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: Westcorp next Lehmann Brothers for CUs?
PostPosted: Sat Mar 28, 2009 8:45 pm Reply with quoteBack to top

Sorry, I didn't understand your post. Are you saying CU's are unsafe?
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ghpacific
Flash in the pan


Joined: 12 Dec 2007
Posts: 30

Westcorp next Lehmann Brothers for CUs?
PostPosted: Sun Mar 29, 2009 9:07 pm Reply with quoteBack to top

That's what I'm wondering about. I'm hoping the one's with a large client base of state employees at least are safe, since our mortgage is with that kind of CU. If not, there's going to be a run on mattresses as the last safe spot! Laughing
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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: Westcorp next Lehmann Brothers for CUs?
PostPosted: Wed Apr 29, 2009 9:11 pm Reply with quoteBack to top

I am really surprised that no one in the "know" has jumped in here to address this.

Perhaps that, in itself, is an answer to the question?

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