HALES CORNER, Wis. – Corporate Central CU said it has partnered with U.S. Central subsidiary Charlie Mac, LLC to assist Cities CU of Vadnais Heights, Minnesota in meeting liquidity demand. The CU has started using Charlie Mac’s Corporate Automotive Receivables Program for Liquidity (CARPool) that allows it to sell off auto loans on the secondary market via Charlie Mac. Using Charlie Mac, the CU maintains the relationship with the CU, but moves the loans off its books. Interestingly, this deal is with a Minnesota CU. Minnesota is the territory of Mid-States Corporate FCU, but a few years back Corporate Central has stated its intent to serve Minnesota CUs. Mid-States has in turn started marketing to Wisconsin CUs.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.