New CU To Open

April 25, 2006, 1:00 a.m. EDT 1 Min Read

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Register now

CHARLSTON, S.C. - (04/25/06) - Organizers of the newly charteredPort Trust FCU, the Charleston area's first new credit union inalmost 40 years, have hired a manager and plan to begin operationaround the middle of next month. The operation will be managed byDavid Torres, a local mortgage banker. Port Trust FCU, which willserve about 65,000 area residents, is one of two credit unionschartered in South Carolina so far this year. The other one isSouth Carolina Firefighters FCU in Columbia.

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Reprint

For reprint and licensing requests for this article, click here.

TRENDING

Paycheck Protection Program

New PPP angst, forbearance balloon payments, Scharf backlash: Top stories of the week

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

11h ago
Commercial lending

Commercial lenders in coastal cities get boost from day-tripper trend

Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.

By John Reosti

September 25
FSOC

Oversight council warns of systemic threat from Fannie, Freddie

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

By Hannah Lang

September 25

MORE FROM AMERICAN BANKER

Digital banking

'Banking is boring': Sberbank's radical transformation to tech firm

Russia's largest bank is reinventing itself as a technology company and selling its own consumer electronic devices. Its chief tech officer says the moves are all about developing broader, more enduring customer relationships that the bank controls fully.

By Penny Crosman

September 25
M&A

Michigan's CP Financial takes more steps to bolster growth

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

By Aaron Passman

September 25
M&A

Dollar Bank seeking heft around Pittsburgh with Standard acquisition

The bank has agreed to pay $158 million for Standard AVB Financial, which has 17 branches in Pennsylvania.

By Paul Davis

September 25
Best Credit Unions to Work For

Credit unions altering perks and policies to respond to staff under stress

Understanding that staff are dealing with new uncertainties surrounding the pandemic, some institutions have become more flexible with many of their traditional HR policies.

By W.B. King

September 25
Best Credit Unions to Work For

The Best Credit Unions to Work For with assets over $1B

A look at what some of the nation's largest credit unions are doing to take care of those who take care of their members every day.

By W.B. King

September 24
CFPB

CFPB missed opportunity to call out lending discrimination, critics say

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with systemic racism.

By Kate Berry

September 24