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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Firms like Brex and Ramp are adding new tech faster than legacy banks, according to payment experts.
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
October 10 -
Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
October 10 -
The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.
October 10 -
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
October 10 -
An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
October 10