The $1.9 billion Corporate America Credit Union has raised nearly $27 million in additional capital from members as the result of a PIC III subscription. Of that, $20.4 was raised as of March 31, with an additional $6.56 million arriving in April.
According to statements and documents posted on the Irondale, Ala.-based corporate's Web site, the PIC III subscription's initial offering stage ended March 31, but will continue to be made in stages. Corporate America said it may continue issuances until a total of $250 million is raised.
As of April 30, Corporate America reports $43.3 million in Paid in Capital Shares, up from $16.4 million one year ago, and $81 million in regulatory capital. Previous PIC issuances include $9 million in 1998 and $7.2 million in 2001.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.