Fitch Affirms Mid-Atlantic Corporate FCU's IDR at 'A+'; Upgrades Individual to 'D'

Fitch Ratings has affirmed the 'A+' long-term Issuer Default Rating (IDR) and 'F1+' short-term IDR of Mid-Atlantic Corporate Federal Credit Union (Mid-Atlantic). The Individual rating has been upgraded to 'D' from 'E'. The Rating Outlook is Stable. A complete list of ratings is provided at the end of this release. Fitch's affirmation of Mid-Atlantic's ratings with a stable Rating Outlook reflects that the company's IDRs are currently at their support rating floor.

Fitch's upgrade of Mid-Atlantic's Individual rating, which addresses Fitch's opinion of Mid-Atlantic's financial profile on a stand-alone basis, reflects its stronger capital position relative to other corporate credit unions and more prudent risk-management practices. Mid-Atlantic already significantly exceeds higher minimum risk-based regulatory capital requirements under the National Credit Union Administration (NCUA)'s revised rules. Moreover, Mid-Atlantic did not incur sizable losses in its investment portfolio, as with many other corporate credit unions.

Fitch's rating action also anticipates a successful completion of Mid-Atlantic's planned merger with VACorp Federal Credit Union (VACORP), which will expand Mid-Atlantic's membership base, as well as enhance the company's efficiency and boost profitability.

Under the NCUA's revised capital requirements, CCUs need to obtain a minimum interim leverage ratio of 4.00% by October 2011, with Tier1 Risk Based Capital and Total Risk Based Capital ratios of 4.00% and 8.00% respectively. In addition, CCUs are expected to achieve a Retained Earnings ratio of 0.45% by October 2013. As of March 31, 2011, Mid-Atlantic reported a 4.76% Leverage ratio and a 30.8% for both Tier 1 risk based capital and Total risk based capital ratios, well in excess of the required minimums.

Although Mid-Atlantic's Retained Earnings ratio was 0.29% compared to the targeted minimum of 0.45%, in Fitch's view, Mid-Atlantic should be able to meet the Retained Earnings target. The company has been able to add about 12 basis points to retained earnings over the past year. Additionally, as noted above, Mid-Atlantic's profitability should benefit from its planned merger with VACORP, which should accelerate its ability to meet the new Retained Earnings target.

5.25% APY checking – La Capitol Federal Credit Union : Access ...

APY = Annual Percentage Yield. La Cap Checking (Share draft) Accounts are variable rate accounts. La Cap may change the dividend rate for your account as determined by the credit union Board of Directors. Dividends are posted and compounded monthly. No minimum balance required to maintain the account. Applicable fees and conditions could reduce the earnings on your account. Qualification to earn dividends: - 25 or more posted non-ATM debit card transactions per month: - 5.25% APY on balances up to but not exceeding $5,000 - .15% APY on balances exceeding $5,000. If qualification stated is not met: - .15% APY on entire balance. Must meet criteria for opening a checking account. LINK Terms: Meet these simple monthly requirements: 1. Receive electronic statements (e-Statements) and notifications 2. Receive payroll deduction or direct deposit 3. Access your account online at least once a month 4. Perform at least 15 debit card transactions per month How it works: If you receive electronic statements and notifications, you will receive a monthly dividend of 0.50%. If you meet all the monthly requirements listed above, you will receive an e-Xtra Bonus dividend of 4.40%. Plus, you will get your foreign ATM fees reimbursed up to $12.00. Membership required. $25 minimum ... LINK Terms: This is our new interest bearing checking account including ATM fee refunds nationwide. To receive the high Annual Percentage Yield (APY) and ATM fee refunds nationwide, you must perform the following qualifications each monthly statement cycle: 1. Make 10 VISA Check Card purchases 2. Set up one ACH Direct Deposit or one ACH debit required 3. Enroll and receive Electronic Statements (valid email address is required) 4. Access online banking (Web-24) Earn nationwide ATM fee refunds each cycle the qualifications are met. Your refunds will be posted on ... LINK Terms: To receive the ultimate return of 4.50% APY* and ATM fee refunds, simply do the following: * Make 12 check card transactions each month * Set up 1 recurring direct deposit or ACH automatic debit * Enroll and receive paperless eStatements * Have loan balances of $5000 or more If you don't meet the loan qualification, you still get a great 3.51% APY. The combined loan balances of $5000 or more, excludes credit cards and secondary market mortgages. And hey, if you don't qualify in a ... LINK Terms: Meet these simple monthly requirements: 1.

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