Walby, who was CEO of Central Corporate Credit Union, took over as CEO of Alloya on April 30 after CenCorp merged into Alloya.
Illinois-based Alloya Corporate FCU announced Wednesday that its merger with Michigan's Central Corporate Credit Union is now complete.
Illinois-based Alloya to maintain suburban Detroit office of CenCorp after merger closes on April 30.
Vote by mail will precede April 4 meeting at corporate's suburban Detroit office.
Consolidation would create nearly $3 billion corporate credit union.
The $1.4 billion Alloya Corporate FCU’s net income of nearly $6 million as of Dec. 31, 2012 is more than twice what the Warrenville, Ill.-based institution projected. How did President/CEO Chuck Furbee and his team do it in an era of low investment rates and little loan demand?
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.
CUCorp and Michigan Business Connections to work together to push member business lending at state's credit unions.
Barely three years ago, an entire industry teetered on the brink of financial collapse as four corporate credit unions, US Central, Wescorp, Members United, and Southwest Corporate reported massive losses in their investment portfolios, losses that not only would eradicate their capital but threaten the uninsured shares and daily operations...
Go big or go home. Those five words outline exactly what is happening with the proposed merger of $1.8 billion Warrenville, Ill.-based Alloya with $1.5 billion Southfield. Mich.-based CenCorp. It’s a marriage of corporate credit unions that, if approved by CenCorp members and regulators, will produce an entity with assets...