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Latest News

Loans Loans Loans

Any member of Corporate America Credit Union may request a Line of Credit, or other loan product, from Corporate America by providing the following forms and financial information;

• Completed Corporate America Line of Credit/Loan Application
  
  
• Most current NCUA 5300 Call Report or internally prepared financial statements which include a balance sheet, income statement, schedule of delinquent loans and year-to-date loan charge-offs and recoveries
  
  
• A copy of the credit union's most recent Supervisory Committee, CPA or league prepared audit report
  
  
• Other financial documents or information as required.

Once approved, the Line of Credit or Term Loan becomes effective upon receipt of the properly executed loan documents.

Every Corporate America Credit Union member has access to a Line of Credit (LOC), which ensures that payments drawn on your credit union's accounts are not rejected due to a lack of funds. The LOC represents the amount of money Corporate America is willing to lend your credit union at any given time. Your credit union's LOC is calculated based on its historical financial performance. Each line is reviewed and updated annually to keep up with your credit union's changing needs. Once established, your credit union can conveniently access its LOC whenever necessary through either short or long-term loans.

For more information, please contact Corporate America at (205) 313-4300 or

(800) 292-6242 ext.100.

Reverse Repurchase Agreement

Reverse Repurchase Agreements are advances that are fully secured by securities owned by the member and held in safekeeping at Corporate America Credit Union. Advances may be made for the member's liquidity or for arbitrage purposes.

A reverse repurchase transaction is the sale of a security with the simultaneous agreement to repurchase the same security on a certain date in the future at a predetermined price. Eligible securities include:

• U.S. Treasury bills, notes, and bonds

• Government agency notes, bonds and discount notes
• Certain government mortgage-backed securities

Physical securities must be in negotiable form. Certificates of Deposit and Bank Agreements, among other securities, are not eligible for the program.

For more information, please contact Corporate America at (205) 313-4300 or (800) 292-6242 ext.100.

Corporate America's Revolving Demand Loan is a variable rate loan available, upon request, to those member credit unions who maintain a current line of credit with Corporate America. Like our settlement loan, our revolving demand loan was created to assist members in managing their short-term liquidity. It is designed as an overnight advance tool indexed to the Federal Funds Rate at the time the advance is requested. This highly efficient advance is executed with only a phone call to Corporate America. The Revolving Demand Loan provides members with an excellent cash management tool to meet both unexpected and anticipated short-term funding needs.

For further information please contact Corporate America at (205) 313-4300 or

(800) 292-6242 ext.100.

The Settlement Loan is an overnight loan with a fluctuating rate based on the daily cost of funds, with interest due monthly. This product automatically covers overdrafts to ensure outgoing payment can still be made, and to bring a negative balance in your Corporate Funds settlement account to zero, after all transactions have been posted for the day.

For more information, please contact Corporate America at (205) 313-4300 or (800) 292-6242 ext.100.

With a Term Loan from Corporate America Credit Union, your credit union has a tool for meeting expected shortages of funds. It allows your credit union to borrow a set amount of money, at a fixed rate, for a specified period of time. This fixed-rate, fixed-term advance permits members to select the advance maturity date that best meets their needs, and provides ability to lock in a specific cost of funds over the entire advance term. So simplify your budgeting, while meeting your credit union's financial needs, by letting Corporate America's staff customize a loan to meet your funding needs.

For more information, please contact us at (205) 313-4300 or (800) 292-6242 ext.100.