MUSKEGO, Wis.–Corporate Central Credit Union said it has paid its member credit unions a Member Loyalty Reward representing a 5.81% dividend on all perpetual
contributed capital (PCC) balances for the month of December, and paid a participation bonus based on each member’s use of Corporate Central’s products, services, and CUSO offerings.
“The Member Loyalty Reward represents a very heartfelt ‘thank you’ to all of our members – our driving force,” said Chris Felton, Corporate Central president/CEO. “Our members are the people who make us successful year after year, and it thrills us to be able to give back to all who continue to support Corporate Central and our CUSOs.”
Corporate Central said it continues to see steady membership growth and its CUSOs continue to see increased usage as well. The company reported its InterLutions’ collaborative employee benefits program, I-Care, now provides top-quality, lower-cost healthcare coverage to nearly 5,000 credit union employees, while its QuantyPhi balance sheet optimization services saw usage growth in its full array of credit union financial service offerings, with benchmarking and bond investing leading the way.
Corporate Central also noted its technology solutions CUSO, Emergifi, added more than 100 service contracts from credit unions in its first full year of operations, on track to become the industry’s go-to for tech products and services that keep credit unions technologically secure and progressive.
‘Outstanding Year’
“2018 was an outstanding year for earnings, membership, and CUSO growth,” said Nick Fanning, Corporate Central SVP/chief financial officer. “It was another year of higher interest rates and increasing economic and market uncertainty, and we are happy to report that Corporate Central has remained strong throughout; allowing us to provide members a safe place to deposit funds, provide greater access to liquidity, and supply value-added products and services that continue to help credit unions achieve their performance goals and prosper.”
“Our goal, our mission, and our passion is to help credit unions to be wildly successful,” added Felton. “Giving back to our members in the form of rewards isn’t just a gesture of appreciation, it’s the reason we exist.”
Corporate Central reported it closed the year with 9.00% in Tier 1 capital and 11.79% in total capital.