Mutual community-serving missions link NCB to credit unions
The bank works diligently to offer competitive banking solutions to our cooperative partners.
For more than four years, NCB has provided correspondent banking solutions to credit unions.
These valuable products and capabilities were developed after a 2011 request from the Iowa Credit Union League [http://www.iowacreditunions.com/] to move all its correspondent banking and settlement services to NCB. Since then, the bank has worked diligently to offer competitive banking solutions to our cooperative partners.
With mutual missions of serving communities, NCB is a perfect partner for credit unions.
That shared mission is one reason why St. Louis Community Credit Union (SLCCU) [https://www.stlouiscommunity.com/] selected NCB for its correspondent banking relationship. NCB’s strong economic value and no capital requirement also persuaded SLCCU to choose the bank as its services provider. The credit union found a common vision in NCB, which also is a member-owned financial organization dedicated to serving and promoting the businesses of its members.
SLCCU was impressed with the significant investments NCB made in infrastructure and staff to allow the bank to partner with a variety of credit union organizations. These partnerships include the National Credit Union Foundation with its community investment fund, the National Federation of Community Development Credit Unions, credit union service organizations such as the Credit Union Loan Source (CULS), as well as several relationships with credit union leagues and corporates.
“NCB offered an exceptional value proposition compared to many traditional providers, including going directly to the Federal Reserve,” says Patrick Adams, SLCCU’s president and CEO. “That value, combined with the fact that NCB didn’t require perpetual contributed capital, made the bank a great option for us. We found a great partner in NCB, and it’s a win-win relationship for both parties.”
“We truly value our partnership with SLCCU,” adds Bill Stewart, vice president and Credit Union Market Leader at NCB. “This relationship enables us to work with a progressive and innovative community-development credit union and utilize NCB’s settlement and correspondent services platform to benefit its members.”