Dear Members:
As I reflect on the past year, I am reminded of the timeless message from the classic holiday film "It's a Wonderful Life." In the movie, George Bailey learns that his true success lies not in material possessions or achievements but in the relationships he has. One quote at the end of the movie sums it up well: “No man is a failure who has friends.” This powerful lesson resonates deeply with us at Corporate One. We believe, and have always believed, that the strength of our relationships with you, our valued members, is the foundation of our success.
To that end, as your corporate partner, we have always been committed to fostering strong relationships with each of our members. We strive to understand your unique needs and goals, and to provide solutions that help you achieve them. The success of our members is our constant guiding light, and we always aim to be the best corporate partner we can be for you. It’s been a year of challenges, opportunities, and remarkable milestones, and I’d like to highlight a few things that stood out to me this year.
- For the second year in a row, we were delighted to give eligible member credit unions who had used two or more of our payment services a special fee rebate. This rebate totaled $1.77 million, and we hope it helped to support your efforts in delivering exceptional service to your own members.
- For our Perpetual Contributed Capital (PCC) owners who have capital with us, we were able to distribute $13.78 million in dividends to you, which marks the highest PCC dividend distribution in our history.
- From hosting 22 live webinars on a variety of educational topics like BSA/AML and check fraud to sponsoring and attending 45 industry events, we have enjoyed seeing many of you in person and arming you with the information you need to serve your members better. We’re looking forward to attending more events to talk with you personally and offering more educational content in 2025 about how we can help you stay competitive, grow revenue, and retain your membership base.
- To ensure that immediate payment solutions are not exclusive to big banks, we kept connecting credit unions to the two new immediate payment rails. We connected 48 of you to the RTP® network and seven of you to the FedNow® Service via ourThird-Party Service Provider (TPSP) solution this year. Looking to the new year, we have more than 30 credit unions in the queue to go live on the RTP network or the FedNow Service in the first quarter of 2025.
- As a proud member of an industry committed to service and community citizenship, we wholeheartedly supported opportunities to step up and give back. In 2024, Corporate One contributed approximately $375,000 to industry causes, including hurricane disaster relief, chapter events, and credit union leagues. We also actively engaged in philanthropic initiatives, such as the Salvation Army’s “Angel Tree” and “My Very Own Blanket” programs.
Looking ahead
In the spirit of "It's a Wonderful Life," I want to express heartfelt gratitude for your partnership with Corporate One. We are filled with excitement and optimism for the New Year because of the strong relationships we continue to have with you, our members. Your loyalty and trust are the foundation of our success, and I want to thank you for being an essential part of our credit union family. We look forward to continuing this journey with you in the year ahead.