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Southeast Corporate financials show 45.8M loss
TALLAHASSE, Fla. (2/5/10)--Southeast Corporate FCU’s losses totaled $45.8 million in December, according to financials the corporate released Thursday. The losses compare to a $111 million gain in December 2008, the unaudited report said. Total revenue was down 41% to $19.2 million in December 2009, compared with $31.3 million in December 2008. Total assets were at $3.3 billion, a 22% increase compared with the same time period one year earlier. The statement reflects a 100% write-down of Southeast Corporate’s member capital at U.S. Central. Member paid-in capital was reported at zero for December 2009, compared with $20.1 million in December 2008.


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