Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Bank to move into hospital CU evicted
SIOUX FALLS, S.D. (5/29/09)--Sioux Falls FCU will lose its space in Sanford USD Medical Center this fall, because of the center's new relationship with a bank. The $124.3 million, Sioux Falls-based credit union had occupied the space at the medical center for 28 years (Argus Leader May 27). Hospital executives notified the credit union that it must leave because First Premier Bank would be using the space. They told the credit union that its service to hospital employees was "superior" but that the nature of the relationship with the bank took precedence. The center's namesake, T. Denny Sanford, owns United National Corp., First Premier Bank's holding company. In 2007, Sanford donated $400 million to the center. He has made other, smaller contributions also. According to a hospital spokesman, the bank approached the medical center with a "very dynamic" and "compelling proposal," which he said would provide "a significant number of service opportunities--banking-related service opportunities for our physicians, employees and guests." He did not say what the opportunities are. The bank will offer expanded hours to include nights and weekends and automated banking stations at the branch Sioux Falls FCU serves more than 1,700 hospital employees and their families. According to President/CEO Fran Sommerfeld, the credit union will serve Sanford employees through its other locations in the city.


RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
12 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
13 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
13 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
14 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
15 hours ago