MUSKEGO, Wis. –Citing a strong 2016 financial performance, Corporate Central Credit Union is paying its member credit unions a 5.55% dividend on all perpetual contributed capital (PCC) balances for the month of December. The payment is the highest in Corporate Central’s history.
“Giving back is what the credit union movement is all about, and we take great pride in being able to pay out a PCC dividend that surpasses all previous payouts,” said Chris Felton, Corporate Central president and CEO. “We are thankful and continually humbled by our members’ support. In our mission to help member credit unions be wildly successful, we work hard to keep adding value to their partnership with our organization. This record-high dividend is a direct result of our steadfast commitment to helping member credit unions succeed.”
The dividend will be paid Dec. 31, 2016, to member credit unions on all PCC balances for the month.
“2016 has been an exceptional year of growth in membership and earnings,” said Corporate Central SVP/Chief Financial Officer Nick Fanning. “Despite more stringent regulatory capital requirements that recently went into effect, we are in great shape, and we are delighted to share this year’s success with our members.”
In a statement, Corporate Central noted it has one of the strongest capital ratios and it continues to see steady membership growth, welcoming over 30 members in 2016. According to Fanning, that strength allows the organization to
offer members a safe place to deposit funds, provide members greater access to liquidity, and supply value-added products and services that continue to help members prosper.
Corporate Central expects to close 2016 with nearly 9.5% in Tier 1 capital and over 15% in total capital.”
For info: www.corpcu.com