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.
-
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.
12m 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.
1h 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.
7h ago