System United Corporate Federal Credit Union announced Thursday that the Westminster, Colo., corporate had successfully raised the capital it needed to meet the requirements of NCUA regulation 704 that mandates minimum capital ratios for corporates.
SunCorp raised more than $60 million in new capital subscriptions from 176 members, the corporate said.
In a statement, Tom Graham, president/CEO, said, “We are grateful for the support of our capitalizing members. Because of them, we can now look to the future and the many new opportunities for SunCorp as the cooperative solution to credit unions throughout the West.”
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