Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Corporate Central members commit 50M to PIC
MUSKEGO, Wis. (8/4/10)--Members of Corporate Central CU have contributed more than $50 million to paid-in-capital (PIC) since it began its capital building efforts in April 2009, the corporate announced Tuesday. “It is within our ability to make value statements and provide empirical measurements to support those statements,” Robert W. Fouch, president/CEO of Corporate Central, said. “However, our true ‘worth’ can only be defined by our members. Collectively, our members have made a profound statement of commitment to their corporate credit union.” Corporate Central said it is well ahead of all initial capital measures in the National Credit Union Administration’s (NCUA) proposed corporate credit union regulations, due to members’ PIC investments made to date and to growing retained earnings. The corporate has projected to be at least 1% in retained earnings by NCUA’s September date targeted for the new regulations. At 1%, the corporate would be more than double the 45 basis points of retained earnings required by NCUA for year three in the new regulations. Also, the $50 million of PIC moves the corporate’s core capital measurement closer to 4%, representing a strong position for the future, the Muskego, Wis.-based corporate said.


RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
3 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
11 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
12 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
15 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
15 hours ago