At a September 24, 2010 meeting, the NCUA Board authorized the Director of the
Office of Corporate Credit Unions (OCCU) to involuntary liquidate WesCorp on a date to
be determined by the Director of OCCU, on grounds of insolvency pursuant to 12
U.S.C. 1787(a)(1)(A). The Director of OCCU determined that date to be
October 1, 2010. On October 5, 2010, NCUA announced the creation of Western
Bridge Corporate Federal Credit Union to assume the operations of WesCorp and
ensure stability and minimize disruption of service to member credit unions.