SOUTHFIELD, Mich. — CenCorp Corporate Credit Union doesn't want to hold on to capital that its members can use better than it can.
That's why members can expect to see some of the capital they contributed over the years in the $2.6 billion corporate returned to them this coming July.
CenCorp announced that it will issue a refund of $20 million in Member Capital Share Deposit accounts on July 1 to its 400 credit union members. It is a rare occurrence when a corporate returns capital to members, but CEO Bill Walby said the corporate decided it was the most effective thing to do with the money.
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