ALEXANDRIA, Va. - (10/18/05) -- Pentagon FCU said Monday it hascontracted with FOLIOfn to be the credit union giant's exclusiveonline broker and provider of investment services. FOLIOfn willallow members of the $8 billion credit union to but stocks, mutualfunds and other investments online, as well as invest in 'Folios,'diversified, customized portfolios of individual securities thatmembers can select and manage on their own. FOLIOfn also offers'Ready-to-go-Folios,' pre-built portfolios, based on variousindices and investment styles, that contain up to 50 securitiesthat investors can modify as they wish. Members with less than$15,000 to invest can own a customized 'Mini Folio,' for as littleas $5 a month, with no minimum investment. FOLIOfn also providesservices to hundreds of credit unions through a relationship withCUNA Mutual Group.
-
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
32m ago -
The first-quarter increase stemmed from higher interest rates, partial charge-offs and certain problem loans, many involving commercial real estate, executives at the Dallas bank say. Further CRE deterioration is anticipated.
1h ago -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
1h ago -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
2h ago -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
3h ago -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
4h ago