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U.S. Central Converts $450 Million to PIC

LENEXA, Kan. - U.S. Central Federal Credit Union announced late Wednesday it has completed the conversion of $450 million in Membership Capital Shares (MCS) to Paid-In Capital (PIC II) shares.

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LENEXA, Kan. - U.S. Central Federal Credit Union announced late Wednesday it has completed the conversion of $450 million in Membership Capital Shares (MCS) to Paid-In Capital (PIC II) shares.

All 26 corporate credit unions are members of the $36 billion U.S. Central, and all participated in the conversion and voted unanimously to approve it, according to an official release.

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