At a ceremony at the Senator Inn in Augusta that included Gov. John Baldacci in attendance, Maine's credit unions presented a check for $214,743 as part of the 2004 Maine Credit Unions' Campaign for Ending Hunger campaign. It is the second consecutive year that the Campaign has topped the $200,000 fundraising mark and the eighth consecutive year the Campaign has set a new record. Last year's Campaign raised $209,035.75. With the 2004 total, the Maine Credit Unions' Campaign for Ending Hunger has now raised and distributed more than $1.75 million since it began in 1990 Seventy-five of the seventy-six Maine credit unions as well as eight chapters in the state particpated.
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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.
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