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
Southeast Corporate Corporate One sign merger pact
COLUMBUS, Ohio and TALLAHASSEE, Fla. (1/19/12)--The boards of directors of Corporate One FCU, Columbus, Ohio, and Southeast Corporate FCU, Tallahassee, Fla., have signed a definitive merger agreement.

The two corporates announced their intent to merge on Sept. 13 and are in the process of submitting their formal application to the National Credit Union Administration (NCUA) for approval.

The agreement governs the terms and conditions that binds the organizations together, and it formalizes many of the merger details, the two corporates said.

"As we drafted the definitive merger agreement, our No. 1 goal continues to be the preservation of the collective $63 million in member capital shares (MCS) held by members at Southeast," said Brad Miller, Southeast Corporate president/CEO.

"With the definitive merger agreement now completed and signed, it is increasingly clear that choosing Corporate One was the best choice for Southeast members. Once the merger is approved by the NCUA and voted on by members, we can look forward to a smooth merger with Corporate One," Miller said.

The next step in the merger process is to submit the application to the NCUA sometime this month. Once the application is reviewed by the NCUA, the memberships of the credit unions will vote on merger. If approved, the official capital subscription process will begin soon thereafter.


RSS





print
News Now LiveWire
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
4 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
9 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
9 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
10 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
11 hours ago