"Overwhelming" – that is the word chosen by Columbus, Ohio corporate credit union Corporate One to characterize the response to its recently concluded member capital recommitment drive.
"The corporate now holds more than a quarter of a billion dollars in total regulatory capital, which including reserves and undivided earnings (RUDE) of $37.2 million," announced Corporate One in a statement.
Corporate One added that it now qualifies as "well-capitalized" under the NCUA financial regulations. "In addition to meeting NCUA revised Reg. 704 capital ratios at the 'well capitalized' levels, Corporate One already boasts a RUDE ratio of 1.14%, which isn't required until year six per the regulation," the corporate said in its statement.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
