The $1.9 billion Corporate America Credit Union has raised nearly $27 million in additional capital from members as the result of a PIC III subscription. Of that, $20.4 was raised as of March 31, with an additional $6.56 million arriving in April.
According to statements and documents posted on the Irondale, Ala.-based corporate's Web site, the PIC III subscription's initial offering stage ended March 31, but will continue to be made in stages. Corporate America said it may continue issuances until a total of $250 million is raised.
As of April 30, Corporate America reports $43.3 million in Paid in Capital Shares, up from $16.4 million one year ago, and $81 million in regulatory capital. Previous PIC issuances include $9 million in 1998 and $7.2 million in 2001.
President/CEO Thomas Bonds was unavailable for comment today.
