WesCorp

Western Corporate Federal Credit Union (WesCorp) was one of the largest corporate credit unions in the United States, acting as a "credit union for credit unions." Established to serve the investment, liquidity, and payment system needs of its member credit unions, it held billions in assets. WesCorp's business model collapsed during the 2008 financial crisis due to massive losses in its portfolio of mortgage-backed securities. In March 2009, the National Credit Union Administration (NCUA) placed WesCorp into conservatorship to ensure the stability of the wider credit union system. The entity was ultimately liquidated, with its remaining assets and operations being wound down or transferred.