COLUMBUS, Ohio -Corporate One Federal Credit Union reached $3 billion in on-balance-sheet assets for the first time in its history in April. The record was driven by term certificate balances, which were up 38% over April 2004. Corporate One is growing. According to year-end data from Callahan & Associates on corporate credit union assets, in 2004, Corporate One jumped from the ninth largest corporate to the sixth largest. Corporate One said that it believes its mix of flexible investments and competitive rates – along with a new national marketing effort – has translated into 23 new investment relationships since the beginning of the year. It also noted the increased demand for "reverse-inquiry" investments, where CUs approached it looking to fill a specific investment need. "Almost daily, we are getting requests from our members to structure investments or loans to meet a specific need. These structures are helping our members maximize their investment returns or mitigate interest rate risk," said Tammy Cantrell, Corporate One's senior vice president of asset/liability management. Corporate One manages another $693 million in outstanding certificates of deposit that it has sold through SimpliCD. Corporate One also manages $307 million in securities outstanding, bringing its total assets under management to more than $4.0 billion. Corporate One serves 770 CU members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
