SPOKANE, Wash. - (01/24/06) -- Four small credit unions havechartered a CUSO to handle their data processing and other businessneeds. The CUSO, CU-Northwest is currently talking to other areacredit unions about handling services for them. Owners of the newCUSO are: Spokane Firefighters CU, Spokane Media FCU, SpokaneCatholic CU and Inland Empire Trades CU, a well as Kentwood,Mich.-based CU-Answers. The new CUSO bought the assets of FranklinAssociates Solutions LLC, a software provider for CU-Answers, toform the new organization. CU-Answers, formerly known as WestMichigan Computer Co-Op, serves 165 credit unions.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
September 17