PLANO, Texas (9/11/14)--This week marks the third anniversary of Catalyst Corporate FCU's inception in September 2011.
Since its formation, Catalyst Corporate has seen its membership grow to more than 1,200 capitalizing credit unions.
"Catalyst Corporate has achieved many successes in its first three years," said Kathy Garner, Catalyst Corporate president/CEO. "Not only were the broad objectives of the original business plan achieved during its first three years, Catalyst actually outperformed most budget projections."
Among the products and services Catalyst Corporate has added this year are a loan participation program, cloud computing and derivative hedging.
More than two dozen credit unions have enlisted in the loan participation program, buying and selling $75 million in loans, with millions more in the pipeline. Loan participations can help offset liquidity challenges and concentration issues and enable credit unions to meet their members' loan needs without exceeding policy limits or pressuring capital ratios.
Catalyst Corporate introduced Catalyst Cloud Computing (C3) to address information technology challenges faced by credit unions. As the expense for technology infrastructure continues to climb, more credit unions are outsourcing their information technology needs. Catalyst Corporate's C3 provides credit unions with a safe and secure way to outsource information technology systems and processes.
Meanwhile, Catalyst Strategic Solutions, the wholly owned credit union service organization of Catalyst Corporate FCU, launched a comprehensive derivative hedging service during the last year to help credit unions mitigate interest-rate risk. Approved credit unions will be permitted to invest in interest rate swaps, caps and floors, basis swaps and Treasury futures.