Friday, December 22, 2017

Notre Dame FCU Raises $12 Million in Secondary Capital

Notre Dame FCU (Notre Dame, IN) received $12 million in secondary capital from the newly formed CU Secondary Capital Fund (CUSCF).

CUSCF is a private vehicle created in a joint effort by CU Capital Market Solutions, LLC and Olden Lane Advisors LLC.

Notre Dame FCU is a low-income designated credit union. Low-income credit unions are authorized to issue secondary capital.

The $530 million credit union plans to use the proceeds to enhance its capital base, increase earnings through loan and deposit growth, and to fund its national expansion efforts.

This is the second credit union in recent months to raise secondary capital.

Read the press release.
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