GEISMAR, La. – Wymar FCU celebrated gave its members a half-million reasons to celebrate the New Year. The 48-year-old credit union sent its members $250,000 in Bonus Dividends and a $250,000 in Interest Refunds-- for a total return of $500,000. The $250,000 Bonus Dividend represented 69.9% of the dividends already paid to the members in 2006. The $250,000 Interest Rebate represented a return to the credit union’s members of 16.4% of the interest they had paid on their loans during 2006. The $42 million credit union was chartered in 1958 to serve the financial needs of the employees of what is now BASF Geismar, Louisiana.
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Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to servicemembers who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
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After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
July 1 - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
July 1