ALBANY, N.Y. - (03/03/06) Universal Sharing Network, theshared branching network known as UsNet, said it is adding sevennew CU Service Centers during the first quarter of 2006 in thisstate. UsNet is part of the CU Service Centers network, which usesexisting credit union branches to provide services for members ofother credit unions, will be operated by Nassau Educators FCU, TheSummit FCU, Winthrop-University Hospital Employees FCU, and fourbranches of Bethpage FCU. Currently, 44 credit unions in New Yorkare members of UsNets shared branching network. As ofyear-end 2005, UsNet was operating 65 CU Service Centers, a 25%increase over 2004.
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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.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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