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2017 achievements, results of the election of directors

From the CEO
April 2018

Dear members:

At our annual meeting on April 26, Corporate One highlighted our 2017 achievements, announced the results of the election of directors, and shared our vision for the rest of 2018 and beyond. I’m excited to report that thanks to our members’ ongoing support, Corporate One had another outstanding year.

Our board of directors provides the strategic vision and leadership to ensure that Corporate One provides value to our members, and I’m pleased to announce the following results of this year’s election of directors:

  • Chairman: R. Lee Powell, Jr., CEO/President, Desco FCU
  • Vice Chair: Robert D. Burrow, CEO/President, Bayer Heritage FCU
  • Treasurer: John J. Shirilla, CEO/President, Best Reward CU
  • Secretary: Robert Fertitta, CEO/President, Navigator CU

The remaining board members are:

  • Bill Allender, CEO/President, BMI FCU
  • Art Boehm, CFO, Ohio Educational CU
  • John Graham, President/CEO, Kentucky Employees CU
  • Jerry Guy, President/CEO, Kemba Financial CU
  • Chris Rutledge, President/CEO, Gulf Winds FCU

Our members’ support, diversified revenue streams, and conscientious spending helped Corporate One achieve its fourth straight year of near-record earnings, which amounted to $13.1 million in net income. We also ended the year with more than $294.8 million in total regulatory capital, and with average assets of $3.6 billion, we are one of the largest corporate credit unions in the nation.

We also have a focused set of strategic initiatives designed to help our members succeed, and in 2017 these initiatives led to many accomplishments and advancements, including the following:

  • We deepened our expertise with faster payments and joined the conversation at the highest levels. We now participate on the Federal Reserve System’s Faster Payments Task Force and the Governance Framework Formation Team, and The Clearing House’s Real-Time Payments Advisory Committee.
  • We offered digital-first financial solutions to help our members remain competitive and meet consumers’ expectations. These solutions include automated mortgage transaction technology provider Roostify, the best all-digital mortgage lending platform in the business, and our new digital payments and money-transfer platform, powered by Payeris.
  • We provided effective and diverse investment and funding solutions, which allow credit unions to manage cash effectively, earn competitive yield, and access funds when demand increases. In 2017, we helped credit unions raise more than $250 million in non-member deposits, and we funded $288.8 million in term loans. We also expanded our offerings to include public fund deposits as an alternative and beneficial funding solution for federally insured credit unions.

The full details of our 2017 performance can be found in our Annual Report.

As we focus on the rest of 2018, we plan to keep serving our member credit unions across the nation with secure, innovative, and competitive products and services, putting you in the best possible position for present and future success. Allow me to extend my sincerest thanks and appreciation to you, our members, who support us year after year and keep Corporate One among the strongest credit unions in the nation.

Best,
Lee C. Butke
President/CEO