Corporate Central Uses Charlie Mac to Meet Member's Liquidity Needs

HALES CORNER, Wis. – Corporate Central CU said it has partnered with U.S. Central subsidiary Charlie Mac, LLC to assist Cities CU of Vadnais Heights, Minnesota in meeting liquidity demand. The CU has started using Charlie Mac's Corporate Automotive Receivables Program for Liquidity (CARPool) that allows it to sell off auto loans on the secondary market via Charlie Mac. Using Charlie Mac, the CU maintains the relationship with the CU, but moves the loans off its books. Interestingly, this deal is with a Minnesota CU. Minnesota is the territory of Mid-States Corporate FCU, but a few years back Corporate Central has stated its intent to serve Minnesota CUs. Mid-States has in turn started marketing to Wisconsin CUs.