RALEIGH, N.C. - (08/10/05) -- Gov. Mike Easley signed into law abill that will allow the state to sell State Employees CU adowntown block for $1. The rock-bottom price will facilitate a $100million Green Square redevelopment project, to be financed by thecredit union, that will include 170,000 square-feet of space forthe state Department of Environmental and Natural Resources; 95,000feet for a new N.C. Museum of Natural Sciences; and 60,000 feet forthe credit union. The project will provide the state with low-costlease space with an option to buy the property, according to MikeLord, chief financial officer of SECU. "It's a good deal for usbecause it gives us a permanent site right in the middle of ourmembership base," Lord told The Credit Union Journal.
-
The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
May 3 -
A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
May 3 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
May 3 -
The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
May 3 -
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
May 3 -
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
May 3