HASTINGS, Mich.—The $2.2-billion Lake Trust Credit Union announced it intends to purchase the Hastings, Mich., branch of Mercantile Bank of Michigan. The bank said it is shedding the branch in response to the shift by consumers to increasingly use electronic banking.
WYANDOTTE, Mich.–Michigan Legacy Credit Union is offering to give local voters a free ride via Lyft to their polling place on election day. The offer, which is for a round-trip ride, is available to anyone who live in one of five zip codes. Membership in the credit union is not required.
HONG KONG – China has concluded its largest-ever pilot project to date for a central bank-backed digital yuan, with analysts saying the trial extended the country’s lead in the global race to develop a central bank digital currency (CBDC).
WASHINGTON–CUNA has launched an “Advancing Communities” campaign, an initiative it said is designed to inform state policymakers and consumers about the economic and social impact that credit unions provide to communities across the country.
SPOKANE, Wash.–For the first time in its 86-year history, STCU here plans to open its offices late on Wednesday for the sole purpose of “checking in with its team.”
NEW YORK—U.S. consumer borrowing unexpectedly fell in August as credit card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment.
NEW YORK–Taxi-medallion owners driving cabs in this city continue to protest terms of their loans and call for financial relief, even as the city and the company that bought a huge portfolio of medallion loans from NCUA have indicated little relief will be forthcoming.
CHICAGO—Credit unions that aren’t top of wallet in members’ various digital apps will want to step up their marketing efforts, if a new survey of consumers’ holiday plans is any indication.
GARDEN CITY, N.Y.–Members of Sperry Associates FCU have approved a merger into Pentagon FCU that includes payments to the members and a multi-year deal for the current CEO.
NEW YORK–The nation’s biggest banks may have seen billions of dollars in fee-income from making loans through the Paycheck Protection Program, but many of them say they expect to see little margin from the PPP, with other indicating they will donate to various charities any profits made.
