Americas

In a unique deal, organizers of Village Financial Cooperative received $500,000 from the Minneapolis City Council as they aim for a June opening.

The two banks will each give $15 million to the Foundation for the Carolinas, which supports affordable housing development in Mecklenburg County.

Mark Fierro, who was previously the CUSO's chief operations officer, was named as interim CEO late last year.

Commercial Bank of Ivanovo, in which former North Carolina Representative Charles Taylor owns an 80% stake, regularly broke anti-money-laundering regulations and used “schemes” to artificially inflate its capital, according to a central bank statement.

The speed of technological change is forcing Britain’s retail payments authority Pay.UK to redesign its core infrastructure.

The Bedford, Ind.-based credit union distributed a $2.7 million dividend to members in recognition of a year that saw loan growth exceed 9%.

The Jacksonville-based credit union kicked off 2019 by buying a bank and expanding into Georgia, but VyStar's moves may hold lessons for CUs far beyond the southeast.

The North Carolina company was hit with a tax penalty tied to its purchase of Chattahoochee Bank of Georgia.

The San Jose, Calif.-based credit union decided to make the change because there were too many other financial institutions with a similar name.

The company plans to use the new capital to pursue growth opportunities.