Southeast Corporate Federal Credit Union's board has voted to extend the $1.6 billion corporate's capital subscription deadline to June 29.
The Tallahassee, Fla.-based Southeast Corp is attempting to raise $75 million worth of Perpetual Contributed Capital as part of a merger deal with the $3.7 billion Corporate One Federal Credit Union of Columbus, Ohio, and had previously set a deadline of May 31.
"The one-month extension is intended to provide additional time for those members finalizing agreements with their boards as well as members who have indicated a willingness to reconsider and support the merger with their capital," said Southeast Corporate President/CEO Brad Miller.
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