PLANO, Texas–Catalyst Corporate is marking its sixth anniversary.
Catalyst said it is marking the milestone by using the opportunity celebrate achievements of its partnership with credit unions, which has grown to 1,411 total members.
“On this anniversary, Catalyst Corporate also reaffirms its commitment to stand beside its partner credit unions struggling to recover from the recent devastating storms along the Gulf Coast,” Catalyst Corporate added.
“Our hearts go out to our members and their employees affected by Harvey,” said Kathy Garner, president/CEO of Catalyst Corporate. “In times like these, our organization hopes to live up to its name. Catalyst is an action word, and our team wants to do whatever we can to help members move forward following this disaster.”
The week of the hurricane, Catalyst Corporate reported it set up special operational support measures for credit unions to communicate storm-related issues, extended its share draft returns deadline and made a monetary donation to the National Credit Union Foundation’s CUAid disaster relief program, Garner said. Catalyst Corporate will continue to monitor the unfolding situation for opportunities to provide assistance.
“Credit unions supported our organization by investing capital six years ago. This is one chance to give back,” Garner said.
Looking back at Catalyst Corporate’s last 12 months, one of the highlights was its annual member satisfaction survey, which yielded the highest-ever Net Promoter Score for Catalyst Corporate – 81. “The average NPS for most industries is between 30 and 40,” Garner said. “The average for credit unions is high 50s to low 60s.”
Catalyst further reported that survey results also showed that many of its members see the organization as a member-driven cooperative; a quality that drives many of Catalyst Corporate’s actions, said Garner. “Credit unions recognize us as a true partner – as a cooperative – and that’s very rewarding,” she said.
“The partnerships we’ve built tend to be some of the most valuable connections we’ve made over the last six years,” she added. “Going forward, these cooperative efforts will remain our focus. It will be one of the things that keeps our organization relevant as the credit union landscape evolves.”
Catalyst Corporate said that one of the partnerships cultivated over the last year is collaboration with Alloya Corporate Federal Credit Union on item processing and next-generation remote deposit services through the TranzCapture, LLC CUSO.
“TranzCapture brings current technology to credit unions through web-based workstations,” said Garner. “This technology allows credit unions to be more efficient and provide more support to their members. We are beyond excited to know that this partnership between corporates truly impacts the lives of members.”
TranzCapture launched just a year ago, but Garner notes that strategic partnerships between corporates will not end any time soon.
“We’ve seen a lot of interest from other corporates wanting to discuss partnership opportunities,” she said. “And unlike other industries where competition is cutthroat, we want to work together to provide better services and technological opportunities for all of our members.”
Catalyst Corporate said that other services contributing to a successful sixth year include Catalyst Strategic Solutions’ ALM and loan participation services.
“Our ALM Services are able to help credit unions manage liquidity at a time when the supply and demand are in flux,” Garner said. “Our loan participation program is unique, and plays a significant role in transferring liquidity from those who need it to those who have it.”
In addition to the partnerships and services Catalyst Corporate is bringing to the table, it continues to meet and exceed financial performance goals. Net income for the first six months of the year totaled $9.47 million. As of June 30, Catalyst Corporate’s total capital ratio was 9.26%, the regulatory leverage ratio was 7.34% (5.00% is considered “well-capitalized”), and the retained earnings ratio was 2.68%. Catalyst Corporate’s operating efficiency ratio (net income divided by operating expenses) for the first six months of 2017 averaged 82.9%.
“We are seen as a critical partner to credit unions’ day-to-day operations,” said Garner. “I know without a doubt, that we would not be where we are now – six years later – without the support of our members.”