SCHENECTADY, N.Y. - (12/21/05) -- Sunmark FCU is offering potentialmembers in its newly added field of membership a holidaypremium--an online savings account that pays 4.25%--the highestrate in the nation. The online accounts, at RateEdge.com, pay asmuch as five times the credit union's regular savings account ratesand are available for all members but are specifically targeted toresidents of upstate New York's Montgomery and Schoharie counties,which Sunmark added to its four-county field of membership just afew months ago. The special online savings product was devised toreach potential members who may be too distant from a branch andare comfortable with online banking, according to Susan Siegel,vice president of marketing for Sunmark. "We can't build branchesas fast as we'd like to in these new areas," Siegel told The CreditUnion Journal. The online product enables Sunmark to serve thesepotential new members while keeping expenses down, sheadded.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
38m ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
2h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
4h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
6h ago -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
6h ago -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
8h ago