MELBOURNE, Australia - (01/02/06) Australia has a new mega-credit union.Credit Union Australia has merged with Australian National CreditUnion, and will now have 76 branches spread across the country,including in Queensland, New South Wales, Australian CapitalTerritory, Victoria and Western Australia. Membership will grow to400,000, it will have 800 employees, and assets will exceed (A) $5billion. The credit union has set a goal of having 25% of thecountrys credit union market share by year-end 2006.Separately, CUA recently acquired naming rights to the home stadiumof the Penrith Panthers, near Sydney.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17