Corporate One FCU Completes Recap

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COLUMBUS, Ohio – Corporate One FCU announced this afternoon it has raised $80.5 million in new capital, making the $4.5 billion institution one of the first corporates to reach NCUA’s new minimum capital standards.

The addition of the new non-contributed capital, combined with $125 million in existing membership capital converted to perpetual contributed capital, and $37.7 million in reserves and undivided earnings provide Corporate One with $267.9 million in capital to reach NCUA’s newly created “well-capitalized” standard.

“It brings me great pride to report that Corproate One’s membership capital offering was a huge success and was over-subscribed,” said Lee Butke, president of the corporate.

 

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