MILWAUKEE — Corporate Central said it is expanding its support for the next generation of credit unions, welcoming two de novo credit union members as associate members and launching a new pathway to assist organizations working toward full charters.
According to Corporate Central, it has added two credit union initiatives as associate members while also positioning itself to support additional groups navigating the “complex process of becoming fully chartered institutions.”
As communities across the country work to establish new credit unions, forming entities face significant regulatory, operational and capital requirements before receiving official charters, Corporate Central said. In response, it said it has amended its membership bylaws to allow earlier engagement with these emerging groups.
‘Commitment to Long-Term Strength’
“Our commitment is to the long-term strength of the credit union movement,” VP-Corporate Development Jesse Kohl said in a statement. “Supporting entities that are actively seeking to become credit unions is fully aligned with who we are and what we stand for. We believe that when new credit unions succeed, the entire movement benefits.”
Corporate Central said the change followed board approval and authorization from the Wisconsin Department of Financial Institutions, enabling the creation of an associate membership tailored to credit union initiatives.
Under the expanded program, the Seattle University Credit Union Initiative joined as an associate member in November 2025, followed by the George Washington University Credit Union Initiative in February 2026.
“This was a thoughtful and strategic decision,” SVP/COO Pete Paulson said in a statement. “If we want to see more credit unions serving communities, we must be willing to support them before they officially open their doors.”
What Associate Members Will Receive
Corporate Central said associate members gain access to financial tools and collaborative support as they prepare for charter approval, including deposit and investment solutions aimed at helping them build the capital needed to launch. The organization also works with initiatives on long-term strategies such as student lending programs to support sustainability after opening.
“Corporate Central has been an incredible partner throughout our journey,” Cisco Malpartida Smith, chair of the board for both initiatives, said in a statement. “When we began this work, we reached out to nearly every corporate in the country, and most told us they could only serve a fully chartered credit union or CUSO—being a credit union in formation wasn’t enough. Corporate Central was different: they acknowledged they faced the same limitation, then proactively moved to amend their bylaws, update their policies and forms, secure regulatory approval, and obtain board approval so they could support us as de novo initiatives. That level of commitment is remarkable and has truly earned our appreciation and loyalty—they really do walk the talk.”
‘A Critical Stage’
With the addition of the two initiatives, Corporate Central said it is reinforcing its role in supporting the development of new credit unions and strengthening the broader cooperative finance system.
“We are proud to support these organizations at such a critical stage,” Kohl said in a statement. “Helping them build capital, establish infrastructure, and prepare for launch is an investment in the future of cooperative finance.”
Corporate Central said it will continue focusing on supporting credit unions at all stages of their lifecycle as part of its broader mission to strengthen communities nationwide.
