ST. LOUIS – Missouri Corporate CU announced this morning it is the latest corporate credit union to receive enough capital pledges to complete a recapitalization under NCUA’s new regulations.
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The $450 million corporate said members have pledged $21.4 million in new perpetual contributed capital, which will put it over the NCUA threshold.
Credit union members in Missouri, Illinois, Oklahoma and North Dakota all made commitments by the Aug. 1 deadline.
Missouri Corporate serves more than 200 credit unions.
