Corporate Central Says It Hits “Well Capitalized” Targets Set by NCUA
Corporate Central Credit Union today announced it has achieved “well capitalized” status across all capital measures of the new NCUA corporate credit union regulations.
In a statement, Corporate Central said its Tier 1 (Core) Capital stands at 5.10% (above the 5% NCUA mandate); its Tier 1 (Core) Risk Based Capital ratio is 30.87%, substantially above the 6% mandate; Total Risk Based Capital is 61.37%, above the 10% NCUA target; Total Capital ratio is 10.13%; Retained Earnings ratio is 1.3%, “more than 2-1/2 times the three-year .45% regulatory requirement.”
Corporate Central also said its Net Economic Value - NEV -- is 11.25%. NCUA regulations require a minimum NEV of 2%. (NEV is a value measured by subtracting the fair value of liabilities from assets.)
“At a time when others are redefining business models, shrinking balance sheets, and formulating capital building plans, Corporate Central Credit Union stands strong and well prepared to provide solutions for credit unions and to continue responsible growth,” said Corporate Central CEO Robert Fouch in a statement.