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Southwest Corporate Grows To Record Levels

DALLAS- Southwest Corporate Federal Credit Union's assets eclipsed $9 billion in February, setting a record high for the corporate. It reached $9.3 billion at the end of February. Just two months earlier, at the end of 2002, assets were at $7.1 billion. "We know that with the current low loan...

By Staff Writer | Updated on April 01, 2003

DALLAS- Southwest Corporate Federal Credit Union’s assets eclipsed $9 billion in February, setting a record high for the corporate. It reached $9.3 billion at the end of February. Just two months earlier, at the end of 2002, assets were at $7.1 billion. “We know that with the current low loan demand, it is more challenging for many credit unions to manage their balance sheets. We are pleased so many credit unions are turning to Southwest Corporate to help meet their needs,” said Francis Lee, CEO of Southwest Corporate FCU. To help CUs in this historically low rate environment, Southwest Corporate offered a record 46 investment “specials” during 2002. Those share certificates were specifically designed to bring higher rates of return than comparable agency investment opportunities. It has already created nine of these specials so far in 2003.

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