CUNA said it had a small net income of $124,400 for the first eight months of the year and expects to be profitable for 2004, for the second year in a row. CUNA Treasurer Alan McMorris reported at last month's CUNA Board meeting in Honolulu that the group had eight-month revenues of just over $30.1 million, compared to expenses of $30 million. "Net income will be in the black, even in the face of significant resources expended during an election year and resources spent to defend credit unions against bank attacks," McMorris told the CUNA board. As a result, CUNA expects net income of about $300,000 for the year. CUNA broke into the black last year to the tune of $450,000, after reporting losses the previous two years.
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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