METAIRIE, La. – Member credit unions of Louisiana Corporate CU received a welcome patriotic surprise with their 2001 Mid-Year Financial Soundness Report. The corporate included a pin of the American Flag along with the mid-year report. The corporate asked members to show their support by donating to the New York CU Foundation's Disaster Relief Fund. As for its mid-year status, the corporate reported to members that its assets were $132.4 million as of June 30, with net income for the six months ended June 30 at $68,000. Approximately 75% of the corporate's investment portfolio was with U.S. Central; 9% in asset backed securities; and 16% in mortgage backed securities. "Exposure to interest rate risk is minimal, due to a high percentage of liquid and floating rate investments," stated the corporate in the report.
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