SAN DIEGO - (12/12/05) -- Marry Ann Patty, a single momworking at San Diego State University, was completely overcomefirst thing Friday morning when the president of her credit unionshowed up at her door brandishing a huge paper check for$25,000--representing the winnings in the credit union's secondannual Xtreme Financial Makeover contest. Patty knew she was one ofthe contest winners, but though it was for the lesser $2,500, andnot the grand prize. When Linda Baughman, president and CEO of the$750 million credit union, flipped up the check and told her shehad won $25 grand, she let out a delightful shriek that wascaptured by the local TV stations. The Xtreme Makeover contest,based on the hit TV show Extreme Makeover, is a creative way toteach members financial education and how to manage their finances.For every member who entered the Xtreme Makeover contest, there wassome financial gain, whether it was the $25,000 grand prize, a$2,500 prize awarded six runners-up, or a personalized financial'makeover' or review in which the credit union promised to improveany member's financial picture by $2,500 or more in 25 minutes, orthe member would receive $25. The financial "makeover" reviewincluded a free financial workbook to help members shop and comparecredit union services to banks, credit card companies and otherfinancial institutions.
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Research finds consumers are using billers' websites to make payments, largely snubbing banks' sites.
3h ago -
A recently finalized joint rule from the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. raises the bar for formal supervisory criticism, putting more of the responsibility for managing downside risk on banks.
3h ago -
Advisors share how they navigate the moment when a client's compliments cross the line and the boundaries that keep the business relationship intact.
September 7 -
The group behind the proposed Georgia Skyline Bank says recapitalizing a 24-year-old Virginia bank offers a faster path to success than a new charter would.
September 4 -
IDScan.net removed the pages naming its bank and credit union integrations after KrebsOnSecurity traced 153 million license scans to the company.
September 4 -
A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.
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