Notre Dame Federal Credit Union Provides $5.25 Million Credit Facility to Catholic Radio Network
Posted on May 5, 2015
Notre Dame, IN – Demonstrating the collaborative nature of credit unions, Notre Dame Federal Credit Union (Notre Dame FCU) announced today that it has successfully partnered with five regional credit unions to provide Relevant Radio of Green Bay, Wisconsin a $5.25 million Term Loan Facility. The participating credit unions included Kellogg Community Federal Credit Union (Battle Creek, MI), Diversified Members Credit Union (Detroit, MI), Mountain River Credit Union (Salida, CO), CorePlus Federal Credit Union (Norwich, CT) and Ohio Catholic Federal Credit Union (Cleveland, OH).
Relevant Radio is using the loan to strategically enhance their financial position. Notre Dame FCU Chief Lending Officer Judd McNally said the credit union was pleased to demonstrate its ability to bring participants together to support Relevant Radio. “They serve a vital role in enhancing the spiritual lives of its listeners and Notre Dame FCU could not be happier to help them advance their mission.”
Relevant Radio Executive Director Rev. Francis J. Hoffman, JCD said “We are very pleased with our new relationship with Notre Dame FCU. From the start the professionals at Notre Dame FCU were eager to understand not only our mission but also our business model. They displayed the rare ability to recognize that the value of an enterprise is the cash flow generated by the hard working people who work there, more than the book value of intangible assets. This new credit facility enables Relevant Radio to maintain a strong working capital position while allowing us to grow. At the same time, Notre Dame FCU’s long range view allows their consortium to realize a healthy return on their investment. We could not be happier with what we hope is a long term relationship of growth for both institutions.”
About Notre Dame FCU
Notre Dame Federal Credit Union, headquartered in Notre Dame, Indiana, is a not-for-profit financial cooperative. With assets in excess of $470 million, Notre Dame FCU’s dedicated partners (employees), coupled with a wide array of financial services, provide members a personalized experience at the credit union’s nine convenient branch locations, its virtual branch (Shamrock Center), and through its robust online banking platform and mobile apps. From its humble beginnings in May of 1941, operating out of the night watchman’s office in the Main Building on the campus at the University of Notre Dame, Notre Dame FCU has grown into a national financial institution, serving over 57,000 members in all 50 states and throughout the world.
About Relevant Radio
Since December of 2000, Relevant Radio has been helping people bridge the gap between faith and everyday life through informative, entertaining, and interactive programming twenty-four hours per day, seven days per week. The Relevant Radio network is currently serving the Church with 38 stations in 18 states, with a potential listening audience of 48.6 million people. The national headquarters of this listener-supported lay apostolate are located in Green Bay, Wisconsin. Programming can be heard worldwide via streaming audio at www.relevantradio.com and on mobile applications.