Southeast Corp didn’t meet its $75 million goal, but the amount members pledged - $68 million - was good enough for merger partner Corporate One.
The ability to raise capital continues to define the new corporate marketplace.
Thursday was deadline for corporate members to contribute capital in advance of planned merger with Corporate One.
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.
WesCorp members seek new home for services, shy from staking new capital. Get the story in next week's print edition today in this print preview.
Final step is meeting capitalization goal of $75 million.
Lose a few million dollars on a wire transfer to Toledo, Ohio, and procedures are in place to get it back in may instances. But when that transfer is to Kiev, kiss the money goodbye.
Ask corporate credit union senior executives what keeps them up at night and for many, it’s whether they can grow their business.
Ohio-based corporate pledges $604,533 as deadline arrives for commitments.
The popularity of Sallie Mae’s Smart Option Student Loan referral program has increased significantly among credit unions since its inception. About 500 credit unions are now participating in the program, which allows them to refer members to student loans that are underwritten, funded and serviced by Sallie Mae and earn...