BALTIMORE - (02/01/05) -- Municipal Employees CU of Baltimoresaid it returned $3.7 million to its members in the form of loaninterest rebates and extraordinary dividends for 2004. Loaninterest rebates were deposited into members share accounts the endof November and the extraordinary dividends were deposited the endof December. The $750 million credit union ranks in the top 3%nationally in 'give-back factor,' a measurement in the credit unionindustry that looks at the interest rate charged on loans, theinterest paid on deposits and the amount returned to members at theend of the year.
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Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as "categorically inaccurate." The two institutions are locked in a legal fight after their agreement to merge turned contentious.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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