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Business Briefs - Honolulu Star-Bulletin
... refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value. The Home Affordable Refinance Program had been scheduled to end June 10 but will now run to June 30, 2011, the Federal Housing ...
Read moreArchive for February 2010 - The Spokesman-Review
It was the Spokane County Jail’s time to shine last night on the cable TV show “Behind Bars.” The hour-long episode on the Discovery Channel featured a belligerent Army sergeant arrested for suspected drunken driving, an accused armed robber ...
Read moreArchive for August 2007 - The Spokesman-Review
Sen. Larry Craig will make a public announcement tomorrow, probably mid-morning, according to his communications director, Dan Whiting. “It’ll be in the Boise area,” Whiting said. “He will be making a public statement.” Idaho Democrats ...
Read moreReality bites: the future of the American human spaceflight endeavor - Space Review
With the Obama Administration’s announcement of their future policy regarding the American human spaceflight program, the new reality is that the United States will be on a slower track toward humans exploring the solar system. Since the space ...
Read moreDon't go to church? - WTVD
The pastoral staff at Raleigh’s Hope Community Church has an unusual directive for those planning to attend this weekend: don’t come. It has nothing to do with inclement weather. The Hope folks have something else in mind. “We think it’s just ...
Read moreQ&A: Former Oscar-nominated Director Christian Frei Travels With the ... - Huffingtonpost.com
Having seen Christian Frei 's War Photographer nearly a decade ago, I wasn't sure what to expect from his new documentary about the post-Soviet effort to finance Russia's Space Program. War Photographer had earned an Oscar nomination, and now ...
Read moreEditorial Roundup: Excerpts From Recent Editorials in Newspapers in ... - Minneapolis Star Tribune
The weather is unsettling this winter. Florida has had a record number of cold days this year after going through one of the hottest Decembers on record. Meanwhile, massive winter storms have blanketed the Eastern Seaboard and Southeastern United ...
Read moreAnalysts seek greater clarity from Kohl's on earnings outlook - Milwaukee Journal Sentinel
The Menomonee Falls-based department store chain reported a 27% increase in earnings per share Thursday, beating Wall Street's estimate by 3 cents. Kohl's Chairman and Chief Executive Officer Kevin Mansell credited inventory management and a private ...
Read moreCommon Council committee backs bee, stray cat ordinances - Milwaukee Journal Sentinel
The council's Public Safety Committee on Wednesday endorsed measures that would allow beekeeping in the city and authorize a pilot program for trapping, neutering, vaccinating and then releasing feral cats. In both cases, the ordinances would ...
Read moreHeard on the Rick Roberts Show - KFMB
This morning on The Rick Roberts Show... We started off this morning by going down a list of President Obama's accomplishments (or lack thereof), as well as his empty campaign promises. Listeners called in with the things Rick may have overlooked ...
Read moreFirst Flight Federal Credit Union Questions asked
Resolved Question: Is greed the primary motivator of criminal trespassers and their supporters?
THE WALL STREET JOURNAL As U.S. leaders craft policies to curb illegal immigration from Mexico, the U.S. Federal Reserve is devising programs to extend banking services to undocumented immigrants. A new remittance program aims to bring Mexican migrants who send money home into the mainstream U.S. financial system, regardless of their immigration status. Dubbed "Directo a Mexico," the remittance program enables U.S. commercial banks to make money transfers for Mexican workers through the Federal Reserve's own automated clearinghouse, which is linked to Banco de Mexico, the Mexican central bank. To use the service, a Mexican need only possess a matricula consular, an ID issued by the Mexican consulate in most major U.S. cities to those with proof of Mexican birth or citizenship, or a picture ID card issued by the U.S. or another foreign government. The idea is to make it cheaper and safer for Mexican workers to send funds to their relatives. "We offer an extremely competitive exchange rate," said Elizabeth McQuerry, an Atlanta-based assistant vice president for the Federal Reserve Bank's retail payments office. "We cost a third of other providers." The majority of immigrants currently make transfers, which average $350 each, through companies like Western Union or a hodgepodge of wire-transfer firms, couriers and others that operate out of storefronts in Hispanic enclaves. Family members then collect the wired cash at a shop in their town or village. The Federal Reserve Bank and Banco de Mexico launched a cross-country road show during the summer to promote the new funds-transfer program to commercial banks. Banks that offer the service hope to attract new customers. Indeed, one of the Federal Reserve Bank's goals is to use the program as a springboard for drawing hundreds of thousands of immigrants into the formal U.S. banking system because commercial banks require that those wanting the service first open a savings account. "People who didn't have bank accounts establish a relationship with us," said James Maloney, chairman of Mitchell Bank in Milwaukee, one of the first banks to offer the Federal Reserve Bank's remittance scheme. "It's great for our business." Acknowledging that many Mexicans sending money home are illegal immigrants, the Federal Reserve's brochure poses the following frequently asked question: "If I return to Mexico or am deported, will I lose the money in my bank account?" The answer: "No. The money still belongs to you and can be easily accessed at an ATM in Mexico using your debit card." A team at the Federal Reserve Bank in Atlanta joined forces with a team at the Mexican central bank to design the Directo a Mexico program in response to a mandate by President Bush, following the U.S.-Mexico Partnership for Prosperity struck by Bush and Mexican President Vicente Fox in 2001. One of the stated objectives was to lower the cost paid by Mexican workers to send money to their native country. The Federal Reserve Bank's brochure touts the favorable foreign-exchange rate, based on the official rate, and a low transfer fee. "In addition, your money is safer in the bank than in your pockets or underneath the mattress," the brochure says. Retail banks that participate in the program charge as little as $2.50 a transfer compared with $40 charged by some transfer services. Retail banks in the program pay the Federal Reserve 67 cents per transfer. Most immigrants operate in a cash economy outside the formal banking system, where they have neither credit nor identity. In a post 9/11 era, bringing immigrants into the banking system - and tracking their remittances - is vital to security, supporters say. Critics, however, say the Federal Reserve Bank is coddling illegal immigrants and helping them engage in capital flight. "Anything that makes it easier for people to live in this country illegally is an inducement for illegal immigration," said Ira Mehlman, a spokesman for the Federation for American Immigration Reform, an immigration-restrictionist group. "On top of that, it is draining money out of our economy." Latin American migrants in the U.S. transferred $53 billion to $55 billion to their native countries last year, according to the Inter-American Development Bank. About $20 billion went to Mexico, $12 billion to Central America and the Dominican Republic, and the rest to South American countries. Remittances sent by Mexicans topped $15.5 billion in the first eight months of this year, 20 percent higher than the amount sent during the same period in 2005, according to Mexico's central bank, and this year's annual figure is expected to hit a new record. Savings scraped together by nannies, painters and others working abroad are now Mexico's second-largest source of foreign revenue, after oil exports and ahead of tourism. Since the Federal Reserve launched the program last year, about 150 U.S. financial institutions have enrolled. While most Mexicans continue to avoid banks, consumers using the program seem happy with it. Julian Gimenez, who works for a landscaping company in Milwaukee, for years had sent money to his wife, Catalina, in Jalisco, Mexico, through a wire-transfer company in his Latino neighborhood. Now, Gimenez uses Mitchell Bank. "It's cheaper to send the money and it arrives faster than any other place," he said. Last month, the program was expanded to enable migrants in the U.S. to open an account for relatives to whom they plan to send money. A bank teller in the U.S. can open the account remotely on a Web site set up by Mexico's Banco del Ahorro Nacional y Servicios Financieros, the development bank known as Bansefi, which has a vast network of branches in urban and rural areas. The beauty of the program, says Bansefi's Chief Executive Officer Javier Gavito, is that the "unbanked population" on both sides of the border gets into the formal banking system. In Mexico, only half of all adults hold a bank account. Directo a Mexico "revolutionizes the remittance market," said John Herrera, co-founder of Latino Community Credit Union, which has five branches in North Carolina and participates in the remittance program. "U.S. banks have realized that these working-class folks are sending real money back home," said Herrera. M O R E N E W S F R O M • Federal Reserve Bank • Business News • Banking • George Bush • North Carolina • World News • Financial Services • Mexico • Western Union • Country • Jalisco, Mexico • Discuss Jalisco, Mexico moreTop First Flight Federal Credit Union Links
www.firstflightfcu.orgFind out how your business qualifies for membership. Learn how you and your business can start to enjoy all of the benefits of being a First Flight member! |
First Flight Federal Credit Union : Member Business ServicesYour savings federally insured to at least $100,000. National Credit Union Administration, a U.S. Government Agency |
www.firstflightfcu.orgThe credit union has 35,184 members and assets of $155 million |
First Flight Federal Credit UnionFirst Flight Federal Credit Union, your member owned financial institution, is committed to providing you with competitive products and services to meet your financial ... |
First Flight Federal Credit Union, Havelock, North CarolinaFirst Flight Federal Credit Union is a full-service financial institution with more than 38,000 members across the state of North Carolina. In addition to 8 branches, First Flight ... |
First Flight Federal Credit Union - Privacy Disclosure(919) 851-5690 |
First Flight Federal Credit Union : Member Business ServicesFirst Flight Federal Credit Union is a HUD-approved lender (US Department of Housing and Urban Development). Contact info for mortgage lender offices in NC... |
First Flight Federal Credit Union, Cary, NC, 27518 - YELLOWPAGES.COM |
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