PLANO, Texas – In just its second month of operation, Catalyst Corporate FCU reported it has achieved “well-capitalized” status, an objective it had projected to reach in 2013.
Catalyst President and CEO Dianne Addington reported that the corporate – created by the merger of Southwest Corporate FCU and Georgia Corporate – has achieved a 5.01% leverage ratio. Addington said during September, Catalyst’s ROA was .35% – compared to a forecast of .04%. The coverage ratio (net fee income divided by operating expense) was 102.9% – compared to a forecast of .82%, Catalyst said.
Catalyst now has 890 capitalized members with more than $95 million in perpetual contributed capital, and is in the process of completing membership paperwork that would provide an additional $986,000 in perpetual contributed capital.
