The corporate network has now hit rock bottom "and we're on the way up," in the view of the president/CEO of the Missouri Corporate Credit Union.
"Let me give you some numbers for our corporate which tell a positive story–we started last January at $864 million, closed at $538 million at the end of August, our capital ratio in January was 2.51% and in August climbed to 3.13% and our net economic value in July was 3.926%," said Dennis DeGroodt, CEO of the St. Louis-based corporate.
Missouri Corporate has always operated "in the boundaries of the rules and we believe we still are" based on the new rules issued by NCUA on Friday, DeGroodt said.
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