Extension to June 29 in bid to raise $75 million ahead of merger with Corporate One.
Thursday was deadline for corporate members to contribute capital in advance of planned merger with Corporate One.
Final step is meeting capitalization goal of $75 million.
Next step is raising capital, vote from current Southeast Corporate members.
Corporates announce signing of merger agreement, preparations for submitting application to the NCUA.
Accolade Investment Advisory LLC, a wholly owned CUSO of Southeast Corporate Federal Credit Union, said it finished 2011 with nearly $1.2 billion in assets under management.
Merging corporates complete series of town hall meetings, planning virtual session next week.
CEOs in 10-minute sitdown explain reasons for consolidation.
“We see this merger as a model for the future of strong, viable corporate credit unions,” said Brad Miller, CEO of Tallahassee, Fla.-based Southeast Corporate, in announcing the decision of his corporate to pursue a merger with Columbus, Ohio, based Corporate One.
Southeast Corporate FCU announced Tuesday it has signed a letter of intent to merge with Corporate One.