PLYMOUTH, Mich. - (03/24/05) -- Community Financial CU said itopened its 21st student-run branch last month in Hillsdale MiddleSchool in Northville. The $320 million credit union has adopted theeducation field as its main cause. The credit union has dedicatedthree full-time employees to monitoring and maintaining itsfar-fledged efforts to cultivate financial education among thearea's youths and also conducts in-school seminars and financialeducation classes, runs youth clubs for pre-teens and teenagers,awards annual scholarships, and provides funding for localeducation programs. Community Financial CU was founded in 1952 asDaisy Air Rifle Employees FCU to serve manufacturers of thenation's BB guns and converted to a community charter in1961.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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