Credit union balance sheets looked both better and worse in the second quarter, as federal insurance fund demands softened while asset deterioration continued.
Thanks to the American Recovery Act signed into law earlier this year, small businesses have an opportunity to flourish in spite of an uncertain economy. Positive regulatory changes resulting from the recent legislation include the modification of Small Business Administration (SBA) loan products that now offer higher government loan guarantees and a reduction in borrower fees.
The next financial bubble could come sooner than many may think.
San Diego County Credit Union is San Diego's largest locally based, full-service financial institution. With 27 branches located in San Diego, Riverside and Orange Counties and 24-hour online access to account information, SDCCU is well capitalized with more than $4.8 billion in assets and over 205,000 customers. SDCCU offers checking accounts with direct deposit, no annual fee Visa credit cards, certificate and money market accounts, auto and home loans and much more.
Mortgage modifications, i.e., changes in rates and terms to lower monthly payments, have become more common in the past year as home values have plummeted and unemployment has skyrocketed. The credit union industry is working hard to help its members stay in their homes, and the incentives are strong.
"Warm" and "inviting" are not necessarily adjectives used to describe the banking industry. But it's part of the experience San Diego Private Bank aims for as soon as clients walk through the door.
Bank of America (NYSE: BAC) recently announced the relaunch of its Merrill Lynch Wealth Management brand, signaling the combined organization and its commitment to delivering personalized financial advice backed by the firm's diverse range of products and resources.
Credit union regulators didn’t mince words during their stop in San Diego on Monday: Next year is going to be very, very tough as unemployment remains high and real estate values stay low.
The reconstitution of the Russell 2000 earlier this year brought in the smallest companies the index has seen since 1993, allowing a few San Diego companies to enjoy the benefits of keeping company with more visible small-cap stocks.
The majority of Californians are optimistic about the future and their finances despite the tough economy, according to a recent quarterly survey by Citibank.
CBS Corp. (NYSE: CBS) won the dismissal of a lawsuit filed by Dan Rather, its former network anchorman, who claimed he was fired in the fallout over a story about President George Bush's Vietnam War-era military service.
With increased fiscal spending and novel monetary policy tools being used to revive the economy over the past year, concerns over inflation are hardly new.
San Diego banks are just muddling along, according to a recent report by ratings firm BauerFinancial, which showed the troubled institutions getting hit the hardest while a handful of standouts stay above the fray.
