Certificate Bookings Still Surging

Register now

Certificate bookings surged again during March at Western Corporate FCU (WesCorp), setting a record in the process. at WesCorp "During the month of March, WesCorp recorded $1.869 billion in certificate bookings," reported Dietmar Huesch, VP-Treasury and Funding. "The surge in activity set a new milestone for us. It actually occurred on Wednesday afternoon, March 30, when one of our members made a purchase that propelled us past $1.6 billion in deposits, outpacing the previous mark of $1.583 billion set in April 2003."

Huesch credited the certificate business to the seasonal inflows natural-person credit unions are seeing, and to the fact many CU are "re-establishing their investment portfolios by taking advantage of the higher yields the marketplace is now offering."

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