HERNDON, Va. - (05/26/05) -- Tellers at Northwest FCU were ataken-aback to see one of their members weighted down by afive-gallon jug in each hand. The jugs, it turned out, held $8,800in coins, the product of nine-years of savings by Jeffrey Knight, aseven-year member. Knight, 40, said he would empty his pocketsevery night and save anything left over when he broke a dollar.After he heard about a fire that destroyed a nearby home, Knightdecided to bring the change into the credit union and deposited it,without knowing how much he had collected. "He was blown awaybecause he had no idea he had so much coin," Gerrianne Burks, chiefoperating officer for Northwest FCU, told The Credit Union Journal,of what took the credit union member more than two hours to feedthrough the automatic ScanCoin change counter. The coin counter,which is free of charge to members, saved Knight as much as $800because other automatic counters charge a 9% commission, notedBurks. Knight's collection consisted of: 3,292 silver dollars,7,639 half dollars, 4,828 quarters, 2,861 dimes, 1,851 nickels and10,416 pennies--a total of $8,801.31.
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Bankruptcy filings rose 11.9% during the past 12 months, according to statistics from the Administrative Office of the U.S. Courts; JPMorganChase named Jerry Lee and Nick Richitt as global co-heads of health care investment banking; Goldman Sachs appointed Akila Raman as global head of its private and alternatives capital markets business; and more in this week's banking news roundup.
April 24 -
The all-cash, 750 million euro deal to buy Talon.One marks a notable shift from the fintech's M&A strategy that has historically favored build versus buy.
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The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.
April 24 -
The Federal Deposit Insurance Corp., Federal Reserve and Office of the Comptroller of the Currency Thursday finalized a rule lowering the community bank leverage ratio from 9% to 8% as well as extending compliance deadlines.
April 24 -
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
April 24 -
Only 16% of 206 banking pros rated their institution "high" or "very high" — and most of those ratings rest on no formal measurement.
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