ALBUQUERQUE, N.M. - (07/20/06) New Mexico Educators FCU saidit has launched a new Community Rewards card thatallows members to help determine how the credit union distributesgift-giving, while also rewarding the member. Members will earn aone-quarter of 1% cash reward for their signature-based purchasesand at the end of a year, the credit union will match their rewardby a quarter of 1% to the community and charitable cause they chosewhen they enrolled. Members are able to choose a community and acharitable category where the credit union may contribute thefunds. Credit union officials estimate they will raise as much as$500,000 during the first year.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28