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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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.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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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.
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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.
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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.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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