Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Corporate Central OKs 600000 patronage refunds
MUSKEGO, Wis. (11/24/08)--Corporate Central CU's board approved a $600,000 patronage refund for 2008 for its member credit unions--the largest payout in the 20 years it has offered refunds. The patronage refund is in direct recognition of the commitment Corporate Central's members have shown to its success. "In a year filled with incredible challenges and remarkable market dislocations, our members continue to do what they have done for years--partner with us, support us, and rely upon us to meet their investment, liquidity, and service needs," said Corporate Central President/CEO Robert W. Fouch. Because of that commitment, Corporate Central "had a very successful year, as evidenced by our decision in March to increase the rate we paid on Membership Capital Share Deposit (MCSD) balances well above what the rate environment would warrant. Through October 2008, we have given back to our members over $1.9 million," Fouch said. The $600,000 patronage refund, coupled with the increase rate paid on MCSD balances, will represent more than $2.5 million given back this year, he said. The refund will be distributed to member credit unions based on their patronage of Corporate Central's investment, loan and correspondent services throughout the year.
Other Resources

RSS





print
News Now LiveWire
.@cuna #GAC2015 countdown: @USTreasury 's Gerety, @CFPB 's Martinez join power-packed lineup http://t.co/nHNJ81tGbi
16 minutes ago
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
20 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
15 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
16 hours ago