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In December 2008, the bank received a $72 million investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program. The investment was returned in 2013. [6] In December 2012, the bank sold 21 branches to Chemical (now TCF Financial Corporation). [7] [8] In 2015, the bank closed 6 branches. [9]
Asset pricing; Bond (finance) Capital structure; Corporate finance; Cost of capital; Equity (finance) Ethical banking; Exchange traded fund; Financial; law. market
The vote was approved by the DFCU Financial membership, and on March 1, 2009, the merger was finalized. An official letter announcing a merger with MidWest Financial Credit Union of Ann Arbor was mailed to members on June 15, 2010. MidWest Financial had been formed to serve employees of the University of Michigan Health System.
It provides mobile banking services through its partner bank, Choice Financial Group. Current was founded by Stuart Sopp at June 2015. [2] In 2020, the Wall Street Journal reported a valuation of $750 million, and reported that Current "is the latest beneficiary of this trend [toward mobile consumer banking]". [3] Current has no physical branches.
In 2009, growth continued with the acquisition of Clearstar Financial Credit Union in Reno, NV. In 2011, UFCU purchased Griffith Savings Bank in Griffith, IN, marking the first time a bank had been purchased by a federally chartered credit union. As of 2012, assets reached $1.5 billion with plans in progress for an expanded corporate headquarters.
To use a financial institution's telephone banking facility, a customer must first register with the institution for the service. They would be assigned a customer number (which is not the same as the account number), and they may be given or set up their own password (under various names) for customer verification.
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