LINTHICUM, Md. – State Employees CU, Maryland’s second-largest credit union, has received approval from NCUA and state regulators to acquire Anne Arundel County Employees FCU, an $82-million credit union based in nearby Annapolis, Md.
The deal will give $2.1-billion SECU four additional branches and 14,000 new members. It is expected to close in August.
SECU operates 15 branches throughout the state and has ATMs in 16 Mars supermarkets.
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.
Most banks are likely not large enough to not support stablecoins and tokenized deposits on their own, creating a new way for legacy IT firms to compete with fintechs.
It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices group say.
The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.
The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.
The construction plan underscores the Japanese banking giant's intent to remain active in U.S. wholesale banking after selling off American retail and small-business units.
