MADISON, Wis. - (09/07/05) -- Credit unions reported anemicdeposit growth of just 0.02% in July, continuing a major drop-offin new savings in 2005, according to CUNA. July's deposit growthcompares to 1% a year ago. Through the first seven months of theyear deposits grew just 2.1%, less than half the 5.1% of 2004, andthe lowest in a decade. On the other side of the ledger, loans grewa strong 1.4% in July, pushing year-to-date loan growth to 6%, justoff last year's 6.5% for the first seven months. New car loans grew3% in July, while used car loans expanded by 1%. Growth in secondmortgage and home equity loans was strong, at 2.7% and 1.6%,respectively, for July.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3