This province's credit unions are joining HSBC Bank Canada, The National Bank and other financial institutions on THE EXCHANGE ATM Network to expand and enhance member service. THE EXCHANGE is a shared network of ATMs across Canada that allows cardholders from any participating financial institution to access full function ATM services, including withdrawal and deposit-taking services on a surcharge-free basis. Cardholders of participating financial institutions also have access to 56,000 ATMs in the U.S. to perform withdrawal transactions without being surcharged. Several Ontario credit unions are already live on THE EXCHANGE Network; the rest will follow over the next few months. When all credit union ATMs are online with THE EXCHANGE next spring, credit union members will have convenient access to 1,700 ATMs across Canada for surcharge-free deposits and withdrawals.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
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