SAN DIMAS, Calif. – Financial Services Centers Cooperative has delayed the introduction of its self-service kiosks in 7-Eleven convenience stores, one of the largest expansions of the credit union switch ever. “We’ve pushed it back to the end of June,” said Sarah Canepa Bang, president of the shared branch network, of the planned April roll-out. “But our credit unions have gotten lots of information and everybody seems really excited.” The program will provide FSCC credit union members with surcharge-free access to self-service Vcom kiosks at 1,700 7-Elevens across the country by the end of June, and another 200 by year-end. All other credit union networks will have surcharge-free access to the kiosks, creating the broadest expansion of credit union access ever. The kiosks will be located in 19 states, with large numbers centered around the Los Angeles, San Francisco, Miami and Washington, D.C. markets. FSCC is currently planning a marketing campaign to notify both credit union members and non-members of the availability of the new 7-Eleven ‘branches’.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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