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From the CEO
December 2017

Dear members:

It has been a happy and busy holiday season at Corporate One, and I’m excited to highlight some of the progress we have made this year. Thanks to our members’ support, we had another strong year financially while providing essential funding, settlement, payment, and digital solutions to our members.

As of November 30, we recognized $11.8 million in net income, thanks to our strong business model and due in part to the success of many of our strategic initiatives. In addition, we added $10.4 million to our retained earnings over the last 11 months, and that total now exceeds $80.4 million. This retained earnings, along with our $219 million of perpetual contributed capital, helps ensure that our capital ratios remain strong.

Our 2017 initiatives were quite ambitious, and I’m excited to share some of this year’s highlights with you so you can see how we have been serving our member credit unions across the nation, helping to put our member credit unions in the best possible position for present and future success. In case you missed hearing about some of these achievements and would like to learn more, each item includes a link for more information.

Deepening our expertise with digital/faster payments solutions and partnerships

  • We started working with Finastra (formerly D+H Corporation), a leading provider of technology solutions to financial institutions globally, to accelerate our ability to offer real-time payments to members.
  • We partnered with non-profit startup accelerator Fintech71, an innovation outpost for the top financial services companies in the U.S.
  • Charles Harkness, VP, Office of Portfolio Project Management, was elected to the Federal Reserve System’s Faster Payments Governance Framework Formation Team (GFFT).

Offering new and improved solutions for credit unions

  • We partnered with automated mortgage transaction technology provider Roostify to offer a digital mortgage platform that streamlines the entire lending experience.
  • We partnered with Payveris, a provider of digital payments and money-movement technology, to lead our members toward continued digital payments innovation and faster payments.
  • We partnered with PMA Funding™ to offer brokered public fund deposits as an alternative and beneficial funding solution for federally insured credit unions.
  • We upgraded our ACH Services platform to one by offered by Lending Tools.

Engaging our members with unique events and practical education

  • In partnership with our accounting firm Crowe Horwath LLP, our live, five-part webinar series broke the new Current Expected Credit Loss (CECL) accounting model down in an easy-to-understand format.
  • Our first-ever nationwide member event focused on helping you discover the business impact of strengthening your management team’s leadership roles.
  • Our new Credit Union Connection Luncheons and In-OH-vate events, in partnership with the OCUL, brought credit unions together for dynamic dialogue about the latest trends and hot topics.

And these are just a few of the biggest highlights this year! There’s so many more I could mention. Many of our 2017 strategic initiatives will continue into 2018, and we’re looking forward to the New Year and the many ways we will continue to provide strategic support and value to you. We’ll keep focusing on prioritizing strategies that will best serve our members and produce secure, innovative, and competitive products and services.

Happy holidays and much success to you in 2018!

Lee C. Butke