FAIRFAX, Va. – The $1.35-billion Apple FCU here said it will absorb via merger $180-million Synergy One FCU.
The merger is to be completed in November, and will serve more than 140,000 members when completed. Both credit unions were chartered to serve and continue to serve large segments of the educational community in Northern Virginia.
The credit unions said in a statement that no layoffs would occur as a result of the merger.
A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
