From the CEO
March 31, 2017
I’m excited to announce that Corporate One has partnered with PMA Funding™ (PMA) to offer brokered public fund deposits as an alternative and beneficial funding solution for federally insured credit unions. This new solution gives credit unions potential access to funds from 2,400 public entities, such as school districts and other municipalities. I believe this is an extremely valuable funding option for credit unions to consider when developing their funding strategy. In particular, public deposits can be a good alternative to raising funds by paying higher rates on member deposits.
We are also excited about partnering with a firm that has a stellar reputation within the political subdivision industry and that this partner will help our credit unions secure funding outside the credit union marketspace.
Our new public fund deposits offering is a key part of our 2017 “First in Funding” strategic initiative. As your corporate partner, we are harkening back to our roots and the original mission upon which we were founded. Corporate credit unions were originally created to help provide funding sources for credit unions, and we strategically manage our liquidity position to ensure our members have access to funds when demand increases.
We realize Corporate One must continually expand its suite of funding options to meet our members’ needs, and we conducted a lot of in-depth marketing research about the opportunity for offering a public fund deposits solution. With the groundwork securely in place, we’re very excited to roll out this cost-effective liquidity solution with no direct expenses that gives your credit union the ability to expand your deposit base without disrupting or cannibalizing existing deposits. Whether your funding criteria is short- or long-term, small or large, public fund deposits offer a stable funding solution to satisfy your liquidity needs.
Lee C. Butke