DEARBORN, Mich. – DFCU Financial has completed its acquisition of ailing Capital Community CU, based in Lansing.
CapCom, a one-time $280 million credit union, followed up a $8.7 million loss for 2007 with a
$2.3 million loss for 2008, as assets dwindled to $203 million.
DFCU is the state’s largest credit union with $2.2 billion in assets and reported net income of $15.7 million for 2008.
Over the last 14 years, Chime has risen from fledgling fintech to a poster-child for what successful bank-fintech partnerships can look like. Now, as the neobank stands on the precipice of owning its own bank, it faces new challenges as it gears up to go toe-to-toe with some of the country's largest banks.
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Seven of eight offices are open; debit cards are capped at $1,000 a day; and the bank's website is down. The bank has given no restoration date.
