The Illinois Credit Union League is hosting a webinar on May 16 from 1 p.m. to 3 p.m. to provide information to credit unions that received Class B Shares 11 years ago when VISA had its IPO. The shares are being carried at no value on balance sheets because they cannot be traded on the open market, but there is an active secondary market that will buy shares at a discount.
Any credit union holding these shares could benefit from the opportunity to hear about possible options to sell. Otherwise, a credit union must wait for VISA to settle with merchants on a class action lawsuit that’s been in the courts for more than a decade and may be years away from settling.
All LSCU credit unions are invited to participate in this informative webinar. Register at https://www.icul.com/visa-class-b-shares-meeting-may-16-2019/ and contact Tom.Kane@icul.com for more information. The webinar will be recorded.