Illinois-based Alloya Corporate FCU announced Wednesday that its merger with Michigan's Central Corporate Credit Union is now complete.
Texas-based corporate posts $14 million in profits, coverage ratio of 88%.
Purchase price not disclosed for 129,321-square-foot facility that once housed one of the largest of the corporate credits unions, pre-collapse.
The NCUA reported March 28 that following a twice-annual review, the highest estimated amount credit unions have yet to pay in corporate assessments has declined by $900 million.
Illinois-based Alloya to maintain suburban Detroit office of CenCorp after merger closes on April 30.
North Carolina corporate plans strategies conference for Virginia credit unions.
Consolidation would create nearly $3 billion corporate credit union.
The Lenexa, Kan.-based CNP provides core processing services used for cash management by more than 2,000 credit unions.
New CEO of new corporate credit union cites challenges, commitments, progress.
The $1.4 billion Alloya Corporate FCU’s 2012 net income of nearly $6 million is about twice what the Warrenville, Ill.-based institution budgeted.