WILBRAHAM, Mass. - (06/06/06) -- Financial Service CentersCooperative continues to expand its shared branching network acrossthe nation and announced Monday deals to add ValleyStone CU in thiswestern Massachusetts town, as well as UMass Five College FCU, innearby Hadley, Mass., as outposts. Both credit unions, the first inwestern Massachusetts to join the system, will officially becomepart of the network this fall. FSC is the nation's largest sharedbranching network with connections to more than 2,200 credit unionbranches in the U.S., Italy, Japan, Puerto Rico, Germany andKorea.
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Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy.
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Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.
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A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.
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The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.
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Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.
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In the company's first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.
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