TORONTO - (07/17/06) NAFCU reported Friday itsboosted its net income last year by 23% to a new high of $607,000.The increase in the bottom line was caused mainly by a 25% rise ineducation conference revenues to $2.45 million, and a 4% boost inmembership dues to $6.4 million. The largest increases in expensescame also from education conferences, a 14% rise to $2.04 million;and in administrative expenses, a 5% hike to $7.4 million. Lastyears expenses also included a $100,000 contribution fromNAFCU to relief funds for Hurricane Katrina. NAFCU also reported ahealthy increase of 21% in its investments to $7.1 million during2005. At its annual meeting last week, NAFCU officially swore inJohn Milazzo, president of Campus FCU, In Baton Rouge, La., as itsnew chairman of the board. Milazzo succeeds Mike Vadala, presidentof The Summit FCU, Rochester, N.Y., who stepped down from the boardafter the maximum allowable nine years on the panel.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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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.
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