On March 1, 2010, U.S. Central (USC) released its unaudited financial results for the fourth quarter of 2009.  Highlights include:

• Other than temporary impairment (OTTI) for the fourth quarter- $497.9 million
• Net loss for the fourth quarter- $476.9 million
• Net loss for the year ended December 31, 2009- $1.77 billion

With these additional losses in the fourth quarter, USC has now depleted all of the remaining membership capital shares held by its member corporates.  In addition, USC has now depleted $331 million of the $1 billion capital note it received on January 28, 2009, from the NCUSIF.  However, this development:

• Has no affect on Members United as the corporate had already written off 100% of its capital investment in October 2009
• Will not cause any additional losses to Members United’s capital shareholders
• Has no affect on continuing operations or product support at either USC or Members United

For a copy of U.S. Central’s unaudited financial report for the fourth quarter of 2009, click here or visit U.S. Central’s website at www.uscentral.org