CenCorp CU Is Latest Corporate To Complete Recap

Register now

SOUTHFIELD, Mich. – CenCorp CU said yesterday it received commitments from 90% of its more than 300 members for perpetual contributed capital, raising $80 million in new capital.

The $2 billion corporate said it expects the figure to go higher once the process is finalized and paperwork is completed.

The recap follows successful capital raising efforts by several other corporates, including Southeast Corporate FCU, First Carolina Corporate CU and Corporate One FCU, among others.

 

For reprint and licensing requests for this article, click here.
Corporate credit unions
MORE FROM AMERICAN BANKER