MINNEAPOLIS, Minn. - (10/08/04) -- The Star Tribune Employees CU, oneof the few single-sponsor credit unions, has applied to stateregulators to expand to a TIP (tradewide, industrywide orprofessionwide) charter to serve all people working in theinformation media profession throughout the state of Minnesota.While eight federal credit unions have obtained TIP charters fromNCUA, which created the new charter type last year, this isbelieved to be the first TIP request by a state charter. DanChristiansen, president of the $38 million credit union, said adeclining membership base at their chief sponsor, one of theregion's two main daily newspapers, has prompted the move to expandfield of membership. And a TIP, rather than community charter,would allow them to retain some sense of common bond. "I don'tthink a community charter is for every credit union. It may not bepart of their DNA," Christiansen told The Credit Union Journal. Hesaid the credit union has lost about 500 members over the last twoyears and now has 6,000 members.
-
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
1h ago -
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
6h ago -
The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
7h ago -
The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
7h ago -
Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
8h ago -
The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
10h ago