With ABC's Extreme Makeover: Home Edition drawing strong ratings, The Credit Union Journal wondered if there weren't a few credit unions also in dire need of a makeover. So we asked. And credit unions answered, with walls of dark wood paneling, 1970s decor, and one facility where there isn't even a bathroom for employees! The Journal, in turn, submitted those photos to our panel of Facilities Experts to get their insights on how credit unions could makeover everything from teller lines and lobbies to the backoffice. Inside this issue is the first installment featuring credit unions in need of a makeover, along with the suggestions from experts on what to do. Coverage begins on page 12.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
3h ago