Catalyst Corporate Federal Credit Union is the name of the new organization built on the best of Southwest Corporate Federal Credit Union and Georgia Corporate Federal Credit Union. Catalyst provides credit unions with a slate of core financial services, designed around efficiency, that include: item processing, remote deposit and electronic payment services. Catalyst also provides credit unions with correspondent, lending and investment products, and access to balance sheet management services.
Catalyst came into existence September 6, 2011, following a year-long process to merge Southwest Bridge and Georgia Corporate. More than 860 credit unions contributed $92 million to capitalize Catalyst.
Catalyst is a not-for-profit financial cooperative that provides services to its retail credit union membership. Corporate credit unions are organized for the express purpose of providing low-cost financial services and competitive investment and lending rates to their member/owners. Profit is not the driving force; rather, corporate credit unions exist solely for the benefit of their member credit unions—a pivotal difference from other financial service providers.
Corporate credit unions are guided by volunteer boards of directors and are regulated by the National Credit Union Administration.