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 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
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
7 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
10 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
10 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
10 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
11 hours ago