In response to adding 285 former Western Bridge Corporate FCUmembers to its roster, the $1.7 billion CatalystCorporate FCU has established a Western Regional Council andwill add two new seats to its Board of Directors.
|The move is designed to represent the new members and the morethan $46.5 million in capital former Western Bridge members havepledged to Catalyst Corporate's coffers. The new directors will beselected based upon recommendations by a Governance AdvisoryCouncil which is also made up of former Western Bridge members.
|Representation is critical to Catalyst's success in new markets,said President/CEO Kathy Garner. The Plano, Texas-based corporate already has abranch office in Hawaii and is working to secure office space insouthern California, according to a release.
|Catalyst Corporate has exceeded its business plan target, Garnersaid, now counting 1,190 capitalizing member credit unions and morethan $144 million worth of Perpetual Contributed Capital. Thesurviving corporate will grow further when it assumes WesternBridge assets July 1.
|Catalyst Corporate won the NCUA bidding for the remnants ofWesCorp in December.
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