MADISON, Wis.-The World Council of Credit Unions' world has gotten a bit larger. The Ghana Co-operative Credit Union Association (CUA) and Seychelles CUhave joined its membership, effective Jan. 1. CUA has 322 member CUs serving 242,000 members. Seychelles CU serves inhabitants of the Seychelles islands and is the country's only credit union with 10,620 members and $8.7 million in assets. As the nation's only credit union, it also serves as the de facto national credit union association for WOCCU membership. Separately, the WOCCU board also approved the transference of WOCCU's Australian membership from current member Cuscal Ltd., to ABACUS.
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Roughly 680 customers were affected, none in the U.S. But the control that failed at Revolut is the legal intake queue every American bank runs.
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Citadel Credit Union recently closed a $50 million loan on a Philadelphia office tower. It's part of a trend, as credit unions build their commercial real estate lending businesses.
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State Street promotes Ann Fogarty to chief operating officer and names Mostapha Tahiri president of State Street Alpha; Florida's Portrait Bank expects to open for business on Saturday; Texas Capital Bancshares is on the lookout for a new chief risk officer following the departure of David Oman; and more in this week's banking news roundup.
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