Winners in a Bad Year
Massachusetts banks, credit unions and mortgage companies all took major hits in residential lending, but there were a few brights spots that helped some lenders come out on top.
Photos: 2023 in Philanthropy
The developers, banks, construction companies, credit unions, real estate brokerages, property managers and others in Massachusetts’ real estate and banking industries had a busy year when it came to giving.
Personnel File – No. 339
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Community Good Works
Fall River-based BankFive announced the first annual recipient of money from its President’s Scholarship Fund: a $40,000 scholarship for a local high school senior. See who else gave back.
Jim Regan to Retire from DCU, Successor Named
Jim Regan, the longtime leader of Marlborough-based Digital Federal Credit Union, plans to retire this summer, and the credit union’s board has selected an industry veteran from California to replace him.
DCU Sponsors College Hockey Polls
Digital Federal Credit Union, known as DCU, has signed a deal with U.S. College Hockey Online (USCHO.com), giving the Marlborough-based credit union a website presence and on-site branding when the men’s college hockey championships come to Boston in April.
Grad Student’s Side Gig Leads to Fintech
Consulting work during Karan Kashyap’s graduate school years led him to found a startup that helps community banks and credit unions automate routine customer service calls.
Major CUs Team Up to Compete with Neobanks
With the pandemic shining a light on the challenges faced by households that lack banking relationships, four credit unions, including two in New England, have joined together to launch a mobile app that they say could help address the problem.
DCU, Three Other CUs Launch Challenger Bank
Marlborough-based Digital Federal Credit Union, better known as DCU, has joined forces with three other credit unions to launch a challenger bank targeted at low- to moderate-income customers.
Community Good Works
From COVID-prevention supplies to major gifts to community pillars, local banks, credit unions and real estate brokerages helped out their neighbors in recent weeks.
Community Good Works
Realtors, commercial landlords and credit unions distributed tens of millions of dollars in recent weeks to groups and organizations doing good in their communities.
Fintech Hub Launched to Make Mass. a ‘Global Leader’
Mass Fintech Hub, a new Massachusetts-based public-private partnership, has launched to help provide resources to the state’s financial technology startups and make Massachusetts “a global leader in Fintech.”
Community Good Works
From literacy to financial literacy, local lenders gave back in big ways in recent weeks.
Groups Hope to Grow Fintech ‘Silicon Valley’ in Massachusetts
Massachusetts already has a combination of assets that make it almost unique compared to other places with fintech startups, industry leaders say. What the state needs now is a way to coordinate these independent pieces.
Community Good Works
A range of local banks, credit unions and commercial real estate firms gave nearly $1.5 million in recent days to help their communities deal with the economic fallout of the coronavirus.
Garbage In, Garbage Out
Online mortgage applications tend to have a higher fallout rate when compared to other omnichannel methods. What are some ways lenders can improve the digital mortgage experience?
Grafton Stop & Shop Plaza Sells for $19.1M
A Stop & Shop-anchored shopping plaza just off the Massachusetts Turnpike in Grafton has sold for $19.1 million.
Could Fed’s Rate Cut Ease Pressure on Bank Profits?
As long-term rates dropped before the Federal Reserve began making moves on short-term rates, the spread between what’s paid on deposits and earned on loans continued to flatten, hurting profits for many community banks. Last week’s decision by the Federal Reserve to cut interest rates for the third time this year could add some steepness back to the yield curve and help reverse this trend.
DCU to Offer Members Student Loan Planning Tool
Marlborough-based DCU is partnering with a leader in higher education finance and planning to offer its members access to planning tools and advisors that will help them make smarter college financial decisions.
DCU Settles Overdraft Fee Lawsuit
Digital Federal Credit Union has settled a class action lawsuit that alleged the $8.5 billion asset credit union unjustly charged overdraft fees under a policy that was unclear.
