Southeast Corporate told CU Times that it didn't reach its $80 million capitalization goal. The corporate will seek a merger partner.
"We appreciate the many members who supported our efforts … We all knew the challenges facing the corporate system, and Southeast Corporate specifically, were significant," Brad Miller, CEO of Southeast Corporate, said in a statement.
"[O]ur objectives in a merger remain…protecting and preserving member capital, maintaining continuity of service, and creating long-term value for members."
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