Dear Members:

What a year it has been! Despite an ever-changing economy, many positive things happened this year as we worked hard to be the best strategic partner we can be for our members. In addition to growing our expertise and capabilities in key areas, such as immediate payments, we distributed the highest Perpetual Contributed Capital (PCC) distribution in Corporate One’s history, issued our first fee holiday, and became a certified participant on the FedNow^® Service.

As always with all our strategic initiatives and business objectives, our guiding light is to elevate and empower our member credit unions to drive the financial success of the members they serve. To that end, before saying goodbye to 2023 and ushering in 2024, I’d like to share some additional highlights and achievements from this past year. 

18 new RTP^® network connections 

We couldn’t be more thrilled that these credit unions can now take advantage of all the benefits and use cases offered by real-time payments. This year, each member we helped connect to the RTP network received first-class support and implementation services. We already have just as many credit unions on deck to connect to both the RTP network and the FedNow Service in the first quarter of 2024.

16 new members: This year, we were so pleased to welcome these credit unions to the Corporate One family. Whether it was offering access to liquidity and providing competitive investment options to helping evolve a credit union’s payments infrastructure, we gave each member the same standard of superior service and expertise Corporate One is known for.

Over $12 million: This total of perpetual contributed capital (PCC) dividends paid during 2023 will mark the highest PCC dividend distribution in Corporate One’s history.

11 presentations on immediate payments: This year we continued to raise awareness at industry trade shows and conferences about the ongoing shift in the payments landscape. We also educated credit unions on how to access both new immediate payment rails, settle and manage cash efficiently, and make payments. We’re looking forward to attending more events and having personal conversations with many of you in 2024 about how we can help you stay competitive, grow revenue, and retain your membership base.

5 live webinars on immediate payments: Case studies, guest speakers, you name it. Our live webinars this year reached more than 575 credit union attendees. If you missed the live events, you can still watch the following webinars on demand: 

• Catching up on the RTP^® Network with The Clearing House and Bayer Heritage Federal Credit Union
• A Deep Dive into the FedNow^® Service

4 new board/committee members: Each of our dedicated board/committee members allows Corporate One to execute its strategic vision, allowing us to continue to be a valued partner for our own members. We welcomed four new directors/committee members this year: 

• Aaron Small, Chief Operating Officer at JetStream Federal Credit Union in Miami Lakes, Florida was appointed to the Enterprise Risk Management Committee.
• Daniel Smith, Chief Financial Officer at Wright-Patt Credit Union in Beavercreek, Ohio, was appointed to the board of directors for a one-year term.
• Daniel Souers, President/CEO at Gulf Winds Credit Union in Pensacola, Florida, was appointed to the board of directors for a three-year term.
• Dave Shuey, President/CEO at Financial Partners Federal Credit Union in Woodburn, Indiana, was appointed to the Supervisory Committee for a three-year term.

$1.6 million: Last but certainly not least, we celebrated the first-ever fee holiday for members who use our payment and vault services. Corporate One gave back $1.6 million in fees to credit unions during the fourth quarter of 2023.

Overall, 2023 was another outstanding year for our Corporate One family, and I’m looking forward to the many opportunities 2024 presents. On behalf of everyone at Corporate One, thank you for continuing to support your corporate partner, and we wish you all the best for the New Year.

Best,