Catalyst Corporate CU Membership Soars
Catalyst Corporate Credit Union, set to acquire certain Western Bridge assets on July 1, has reached more than 1,190 capitalizing member credit unions.
May 22, 2012
Catalyst Corporate announced that it has reached more than 1,190 capitalizing member credit unions throughout the nation after launching with 890 members in September of last year. Though membership rose steadily throughout the final months of 2011, the greatest influence on this rapid growth is transition of Western Bridge Corporate members, according to Catalyst Corporate.
Western Bridge members have pledged more than $46.5 million in capital to Catalyst Corporate, bringing total Perpetual Contributed Capital to more than $144 million, exceeding their business plan target according to its President and CEO Kathy Garner.
According to a press release, the upcoming acquisition of certain Western Bridge assets by Catalyst Corporate announced in December 2011 is slated to occur on July 1.
In addition to its Plano, Texas, headquarters, Catalyst maintains branch offices in Georgia and Hawaii, and is working to secure space in southern California. In addition to these states, Catalyst has member-facing staff working in California, Oregon, Washington, Oklahoma, Florida, Utah and Idaho; these individuals provide coverage in their home states as well as the neighboring states of Nevada, New Mexico, Arkansas, and Louisiana.
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