Credit unions plot changes in face of bank mergers

Article Abstract:

Credit unions in Canada are considering changes in their business as they face strong competition from merging banks. The credit unions are aiming to come up with changes, while maintaining their autonomy and commitment to the community. One of the suggested changes is the formation of a federally-regulated national cooperative bank, in which credit unions would essentially become branches of the national group. Another plot is the creation of a similar group, but the credit unions will be allowed to hold the deposits and liabilities. Under the second suggestion, local credit unions can either be affiliated with the national union or remain more independent as they take advantage of only some of the programs.

Comment:

Canada: Credit unions are considering changes in their business as they face strong competition from merging banks

Strategy & planning, Credit Unions

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Possible sale breathes life into Loewen stock

Article Abstract:

Loewen Group Inc.'s stocks posted a recovery after investors considered the possible sale of the firm to Service Corp. International (SCI) of Houston, TX. SCI, which operates 3,300 funeral homes, 422 cemeteries and 174 crematoria in 18 countries, merely stated that it would be interested in Loewen if the latter decides to put itself for sale. Loewen officials blamed poor cemetery sales, lower-than-expected deaths and extra expenses incurred after trimming down an office in Philadelphia for the decrease in the company's stock value.

Comment:

Loewen Group's stocks post a recovery after investors considered the possible sale of Loewen to this firm

United States, Asset sales & divestitures, Acquisitions & mergers, Securities issued, listed, Funeral Homes and Funeral Services, Funeral Services, Funeral industry, Loewen Group Inc., Service Corporation International

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