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How Are We Doing Compared to the Plan?

For those of you who capitalized Missouri Corporate Credit Union (MCCU) you might be interested in how we are performing against the Strategic Plan approved for release by the NCUA for the re-capitalization process.  For credit unions interested in joining MCCU, I’m certain you are curious about how well we are doing and what the future holds.

Regarding the NCUA capital standards, the most critical target facing us is compliance with the 45 bps retained earnings requirement that must be met by September 30, 2013.  The Strategic Plan approved for release by the NCUA in May 2011 and used for the re-capitalization effort, projected a retained earnings ratio of 53 basis points in September 2013.  As of May 31, 2013 our retained earnings ratio is already 53 basis points (unaudited), well ahead of the 2011 projections.  I wouldn’t be surprised if retained earnings didn’t come close to 60 basis points by September 2013. 

The NCUA also requires corporates to have a Leverage Ratio of 4.00%, a Tier 1 Risk-Based Capital Ratio of 4.00% and a Total Risk-Based Capital Ratio of 8.00% at September 30, 2013.  As of May 31, 2013, Missouri Corporate’s Leverage Ratio is 8.80%, the Tier 1 Risk-Based Capital Ratio is 77.5% and the Total Risk-Based Capital Ratio is 80.3%, all well above the regulatory minimums required at September 2013.

In addition, as of April 30, 2013 our base case Net Economic Value ratio is 11.46%, well above the 2.00% minimum.  The NEV decline in the up 300 bps scenario is -12.39%, well inside the regulatory maximum of -15.00%.  Finally, our asset Weighted Average Life (WAL) is 0.76 years, well below the regulatory maximum of 2.00 years.  Missouri Corporate’s investment portfolio consists of government agency mortgage-backed securities (MBS), government agency securities, insured bank CDs, and investments in the Federal Reserve Bank of St. Louis. 

To those credit unions that provided capital that well exceeded our goal, thank you!  To those that are interested in joining a vibrant, successful, safe corporate credit union, please contact Michelle Thompson at mthompson@mocorpcu.coop for more information.


Kitty Gray, CPA, CGMA, MST, CUDE
Missouri Corporate Credit Union


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