Eastern Financial Florida Credit Union, said it netted $1.8 million in loans in March as a result of an on-site car sale at which members bought more than 88 new and used cars. The credit union, which worked with AutoAdvisors in assembling the sale, said that more than 500 people turned out for the 10-hour event at which rates as low as 3.99% were available. EFFCU also recognized Teller Loran Danford, who learned of one member who wanted to visit the sale but did not have a car. Danford gave up her day off and drove the member to the sale, where she bought a car.
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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