Credit Unions Commit $120M in Capital to Mid-Atlantic Corporate

Wednesday, December 08, 2010 11:25:14 AM

MIDDLETOWN, Pa. - In the wake of NCUA's recent corporate regulations, the agency sent a letter to credit unions stating "over the next year, boards will be expected to make a strategic decision about where to obtain essential services that have traditionally been provided by corporates."

Mid-Atlantic Corporate, however, has received continued support from credit unions by committing capital to the corporate despite these regulatory changes. Its plan, which was released in January 2010, was received with overwhelming support from over 650 credit unions committing more than $120 million in capital.

"Mid-Atlantic Corporate has proven to be both innovative and experienced when it comes to financial performance, payment systems and operational expertise," the credit union said in a release. "Mid-Atlantic Corporate continues to be strong and steady, and we're confident we can continue to serve our members effectively under the revised NCUA rules."

If you have any questions, please feel free to contact your Corporate Account Manager at (800) 622-7494 or accountmanagers@midatlanticcorp.org.

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