CLOQUET, Minn. – Members Cooperative CU is beginning construction of a new 7,000-square-foot data technology and call center in January, with the aim of having it up and running by June.
The Duluth Seaway Port Authority agreed last week to sell the credit union 1.5 acres of land to for $97,500 for the project.
Members Cooperative will relocate 19 people from the Dewitt-Seitz building to the new location when it is ready.
Roughly 680 customers were affected, none in the U.S. But the control that failed at Revolut is the legal intake queue every American bank runs.
The Federal Reserve's top regulator has the early returns from the report she commissioned on the 2023 bank failure and said it supports her call for new reporting practices among Fed supervisors.
The "near-prime" lending fintech Avant is seeking to become a full-service bank by filing for a national de novo bank charter with federal regulators.
The commerce company has made major inroads into embedded finance, a strategy that could get a boost from partnering with the social media giant's new AI agent.
Citadel Credit Union recently closed a $50 million loan on a Philadelphia office tower. It's part of a trend, as credit unions build their commercial real estate lending businesses.
State Street promotes Ann Fogarty to chief operating officer and names Mostapha Tahiri president of State Street Alpha; Florida's Portrait Bank expects to open for business on Saturday; Texas Capital Bancshares is on the lookout for a new chief risk officer following the departure of David Oman; and more in this week's banking news roundup.
