PORTSMOUTH, N.H. - (01/05/05) -- Members of Northeast CU can bet ontheir favorite football team in next month's Super Bowl through thecredit union's 'Super CD' promotion, introduced last month. Memberswere offered the opportunity, starting Dec. 18, to buy a 16-monthCD for the premium rate of 3.05% and pick a football team to winthe Super Bowl. If their team makes it to February's annual NFLchampionship game the rate on their CD is bumped up to 3.41%, andif their tam wins the ultimate game, the rate is lifted to 3.82%,according to Tony Popielarz, head of marketing at Northeast CU.With the playoff teams set last weekend, interest in the promotionhas skyrocketed, with a total of $1.5 million sold, said Popielarz."Really, the monies keep pouring in," he told The Credit UnionJournal. The vast majority of members, about 90%, are betting onthe home team New England Patriots to go all the way again, butfans/members are also spreading their bets on other teams, like thePittsburgh Steelers, or the Green Bay Packers.
-
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
9h ago -
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
10h ago -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
10h ago -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
10h ago -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
11h ago -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
April 18