Hawaii Schools FCU, a $50-million credit union serving students and school employees on Honolulu, has received what is believed to be the largest common bond expansion ever granted for a federal charter.
The FOM request, approved in March by NCUA, will allow the 6,000-member credit union to serve 205,000 students and education employees in the state of Hawaii.
The retail giants are kicking the tires on their own currencies. The potential prize is a way to reimagine prepaid cards and gain a key position as new forms of artificial intelligence-powered payments take off.
Primis Bank plans to sell an undisclosed amount of its 19% ownership stake in Panacea Financial, a digital-only lender focusing on medical professionals and veterinarians. The deal should yield $22 million.
The fintech and nonprofit join others, including AARP and the ICBA, in working to raise awareness of the financial risks of Alzheimer's and dementia.
The impact of President Trump's tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.
The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.
In USAA's battle with banks over mobile deposit technology, which it says it invented, a bank has scored a rare victory.
