SAN BERNARDINO, Calif. - Norton Community CU has a new name and will soon have a new office to call its home. The $150 million credit union changed its name to AltaVista CU on April 1 and will break ground next week on a new headquarters in the nearby Redlands. The credit union, chartered in 1943 to serve civilian employees at Norton Air Force Base, was converted to a multiple group credit union in 1994 after the air base closed, then to a community charter in 200 covering San Bernardino County. Plans for the new headquarters call for a 22,000 square-foot home office and branch.
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Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.
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Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
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Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
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The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.
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As part of its U.S. market strategy, the U.K.-based neobank is offering New York City commuters cashback on public transit fares when they open a new account.
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Federal Reserve Chair Jerome Powell said Friday that while the central bank must "proceed carefully" in considering interest rate adjustments in the coming months, recent softness in employment "may warrant adjusting our policy stance."
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