PLYMOUTH, Mich.–Community Financial Credit Union said it distributed nearly $800,000 in donations to 289 organizations across Michigan during 2022. That included$80,000 toward tornado relief for the city of Gaylord, $45,000 in grants to 12 area public school districts, $60,000 to local food pantries via “Thankful Thursdays,” and $40,000 toward its Warming Hearts and Homes initiative, the credit union reported.
DES MOINES, Iowa– Curql Collective, a CUSO that invests in fintechs as a means of driving innovation, said the newest company to join its collective is Flybits, a provider of artificial intelligence and other technologies aimed at delivering personalized content and digital experiences to credit union members.
EAGLE, Idaho–Brittany Lugaresi, 36, an employee of Westmark Credit Union, was killed at the credit union’s branch here in front of coworkers, after allegedly being shot by her estranged husband, Michael Lugaresi.
NEW YORK–The nation’s largest banks are seeing an influx of deposits following the shutdown of two banks in the last week, in part from customers who are over the FDIC deposit cap at other institutions, according to a new report.
SANTA CLARA, Calif.–The recent failures of two large banks has made clear there is a new threat to financial institutions of all types—the “silent run” on deposits.
NEW YORK–A former chairman of the FDIC is calling on the Federal Reserve to stop raising interest rates—and she’s citing the failed Silicon Valley Bank as one reason why.
WINTER SPRINGS, Fla.–Credit unions that haven’t already done so will want to think about reassuring their members about the security of their deposits, as online searches about the safety of money have spiked by 400% since the recent failure of two banks. A review by CUToday.info of searches for “credit union,” however, reveals there has been no uptick over the last week.
NEW YORK–The fallout from the failures of the two banks is also being felt by countries outside the United States.
WASHINGTON—The turmoil in the crypto-banking space—which played a primary role in the failure of Signature Bank in New York—may have been predicted at least in part by the International Monetary Fund (IMF).
NEW YORK–Certificates of deposit are suddenly “cool again”—at least at banks, according to one new report.
