The ability to raise capital continues to define the new corporate marketplace.

The Tallahassee, Fla.-based Southeast Corporate Federal Credit Union faced a May 31 deadline to raise $75 million in perpetual contributed capital in advance of the $1.6 billion corporate's planned merger with the $3.7 billion Corporate One Federal Credit Union. And the $2.4 billion Corporate Central Credit Union will now offer credit unions the option to establish membership at an associate member, providing services while requiring less capital than required for full membership, or no capital commitment at all.

Corporate One President/CEO Lee Butke said May 30 he was "nothing but pleased" with Southeast Corporate's progress toward the $75 million goal. Southeast Corporate members must convert their existing $63 million in member capital shares to PCC, and if required to meet the membership requirement of 0.9% of assets, purchase additional PCC.