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NCUA Expands Georgia Central CU's Powers

DULUTH, Ga. - NCUA has granted the $1.3 billion Georgia Central Credit Union Base Plus expanded authorities. This allows the corporate to take on additional interest rate risk, and provide it more flexibility in managing its balance sheet - and ideally earn more income when conditions are favorable. "The additional...

By Staff Writer | Updated on November 16, 2004

DULUTH, Ga. – NCUA has granted the $1.3 billion Georgia Central Credit Union Base Plus expanded authorities. This allows the corporate to take on additional interest rate risk, and provide it more flexibility in managing its balance sheet – and ideally earn more income when conditions are favorable. “The additional flexibility expanded authorities gives us will be of benefit to all our members, especially since we believe it’s important to pass along the results of our success to our member-owners,” said Cory Johnston, Georgia Central’s Chief Investment Officer. To get the powers, Georgia Central had to undergo an extensive review by the NCUA and Georgia Department of Banking and Finance of all policies, procedures, systems and personnel related to investments, asset-liability management, and other factors.

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