The $4-million Verizon Employee's FCU has merged with Orange County's Credit Union, creating a $763-million CU serving 81,000 members. Separately, in Salem, Va., City of Salem Employees FCU has merged into Freedom First FCU. In Moon Township, Penn., the $1.4-million Neville Chemical Employees FCU has merged into the $600-million US Airways Federal Credit Union. USAFCU held a reception for the 352 members of NCEFCU. Also merging were two defense credit unions. Coast Guard FCU, Mobile, Ala., has merged into Army Aviation Center FCU, Daleville, Ala. The merger creates a CU with 95,000 members. Finally, in Houston, the former S&S Credit Union is changing its name to Space City Credit Union. With the new name has come a new web address, www.spacecitycu.com.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
April 19 -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
April 19 -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19