"Overwhelming" – that is the word chosen by Columbus, Ohio corporate credit union Corporate One to characterize the response to its recently concluded member capital recommitment drive.
"The corporate now holds more than a quarter of a billion dollars in total regulatory capital, which including reserves and undivided earnings (RUDE) of $37.2 million," announced Corporate One in a statement.
Corporate One added that it now qualifies as "well-capitalized" under the NCUA financial regulations. "In addition to meeting NCUA revised Reg. 704 capital ratios at the 'well capitalized' levels, Corporate One already boasts a RUDE ratio of 1.14%, which isn't required until year six per the regulation," the corporate said in its statement.
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