XCU Capital working on second offering
CARLSBAD, Calif. - Response to XCU Capital Corp.'s first offering of shares in the CU-owner broker dealer was so much more than expected, it is currently working on a second offering expected to be released in early 2003. Currently, XCU Capital owners include: Michigan Educational CU, Mountain America CU, Premier American CU, SAFE CU, Schools Financial CU, State Employees' CU of N.C., The Golden 1 CU, Travis CU, TRW Systems FCU, WesCorp, and Xerox FCU. In June, XCU FCU, the largest single shareholder in XCU Capital, released an offering to reduce its 39% share ownership to 20% over a two-year period. Within a month, the company said, more bids were received than were available, and the offering was closed.