LAS VEGAS - (01/12/04) -- Clark County CU said it paid out awhopping $5.3 million bonus dividend to members for 2004, one ofthe biggest in the country. Members received 18.9% of all interestthey paid on their loans last year. The dividend works out to anaverage of $154.77 for each of the credit union's 34,244 members.This is the fifth straight year the credit union has paid a bonusdividend. Credit union officials attributed the large payout to thecredit unions profitability--a 2.76% return-on-average assets (ROA)last eyar, and high capital, 11.6%.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3