Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CenCorp completes capital offering
SOUTHFIELD, Mich. (7/8/11)--Central Corporate CU (CenCorp) announced it completed its Perpetual Contributed Capital (PCC) offering July 1. CenCorp said it received strong support from its existing members, with more than 90% of member credit unions giving PCC commitments of $80 million so far. CenCorp said it anticipates contributions will rise as the process is finalized and paperwork is revised from additional members. “This is a significant milestone for CenCorp,” said Bill Walby, CenCorp CEO. “With the capital change, CenCorp is positioned to serve members under its revised business model and comply with new regulatory requirements. The high participation rate from members demonstrates that a credit union-owned cooperative for correspondent services continues to make sense. We are fortunate to have received this level of support.” CenCorp, based in Southfield, Mich., is a corporate credit union that provides wholesale investment, credit and correspondent services to more than 300 credit unions.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
9 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
11 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
11 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
13 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
13 hours ago