PLYMOUTH, Mich. - (11/24/04) -- Officials of Community Financial CUpresented a $700 check to the Northville Education Foundation tomark the opening of its new student branch at the local elementaryschool, the credit union's 20th in-school branch. The 53-year-oldcredit union, chartered as Daisy Air Rifle Employees FCU to servemanufacturers of the nation's BB guns, has adopted the educationfield as its main cause. "We kind of chose education as our petservice," Susan O'Connor, a spokesman for the $300 million creditunion, told The Credit Union Journal. The credit union, convertedto a community charter in 1961, has dedicated three full-timeemployees to monitoring and maintaining its far-fledged efforts tocultivate financial education among the area's youths. Besideoperating the student branches, it also conducts in-school seminarsand financial education classes, runs youth clubs for pre-teens andteenagers, awards annual scholarships, and provides funding forlocal education programs. "We were rally doing this beforefinancial literacy became the buzzword," said O'Connor.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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