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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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12