SALT LAKE CITY - (12/17/04) -- The Utah Bankers Association tooksome time off from their credit union battles Wednesday to presenta check of $11,000 to UCB CU so the tiny credit union could buy anew computer system. The $700,000 credit union, which serves theblind and visually impaired, called the bankers' donation alife-saving gesture. "This check will pay off what we owe and buysome office supplies. It will make a huge difference for us," saidVickie Jaquier, chairman of the tiny credit union. The creditunion, open only on Wednesday's, occupies a single room in the UtahDivision of Services for the Blind and Visually Impaired offices,and had operated on an antiquated desktop computer. Kirsten Wilde,spokesman for the Utah bankers, said the association was alerted tothe credit union's situation from several of its banks that haveinvested non-member deposits in the credit union. "The banks cametogether, raised the money and helped pay for the computer system,"Wilde told The Credit Union Journal. The bankers association hasbeen battling the state's credit unions for more than a decade andrecently won a federal suit striking down large community chartersNCUA granted for four Utah credit unions. Both the Utah League ofCUs and America First CU also helped the tiny credit union,too.
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Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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