New Mexico Educators FCU said it has launched a new 'Community Rewards' card that allows members to help determine how the credit union distributes gift-giving, while also rewarding the member. Members will earn a one-quarter of 1% cash reward for their signature-based purchases and at the end of a year, the credit union will match their reward by a quarter of 1% to the community and charitable cause they chose when they enrolled. Members are able to choose a community and a charitable category where the credit union may contribute the funds. Credit union officials estimate they will raise as much as $500,000 during the first year.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3