Corporate Central Credit Union issues loyalty reward
Corporate Central Credit Union in Muskego, Wis., paid a member loyalty reward to its credit unions at the end of 2018.
Member credit unions received a 5.81 percent dividend on all perpetual contributed capital balances for December, the $2 billion-asset institution said on Tuesday. In addition, Corporate Central paid what it called a “participation bonus” that was calculated based on each member institution’s use of its products and credit union service organization offerings.
Corporate Central’s total payout for 2018 – including dividends and rewards – was more than $725,000. Over the past three years, the corporate has returned more than $1.8 million.
The corporate said it ended 2018 with 9 percent in Tier 1 capital and about 11.8 percent in total capital.
Corporate Central said it continues to see “steady” membership growth, and its various CUSOs are generating increasing interest. One example is InterLutions, which offers a collaborative employee benefits program, I-Care. The program now gives healthcare coverage to approximately 5,000 credit union associates.
“The member loyalty reward represents a very heartfelt ‘thank you’ to all of our members – our driving force,” Chris Felton, Corporate Central’s president and CEO, said in a statement. “Our members are the people who make us successful year after year, and it thrills us to be able to give back to all who continue to support Corporate Central and our CUSOs.”