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Grabbing groceries for Douglas County Food Shelf
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On the Street: April 9 | Echo Press
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Credit unions acquisitions of banks have kicked off in 2021 just as they had in 2020: with a move by Minnesota s Wings Financial Credit Union.
The $6.7 billion-asset Apple Valley-based credit union is buying fellow Minnesota lender Brainerd Savings & Loan, it announced Monday, according to the Minneapolis/St. Paul Business Journal and American Banker. The deal, which requires federal and state approval, is expected to close by May 31. Financial terms were not disclosed.
Wings in February 2020 announced it would buy Mora, Minnesota-based Neighborhood National Bank in the first bank purchase by a credit union last year.
The acquisition of taxpaying banks by tax-exempt credit unions has aroused pushback from the Independent Community Bankers of America (ICBA), which launched a campaign in late 2019 aimed at curbing the trend. Credit unions in 2019 bought 16 banks, an acceleration from nine the previous year. That number winnowed to seven in 2020.
Wings Financial to buy another bank
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Brainerd School Board
1. Call the meeting to order and roll call:
2. Announcement by Chair Haglin:
Due to the current federal and state emergency declarations, the Minnesota directive to residents to stay at home, and guidance about limiting person-to-person contact due to the COVID-19 pandemic, this meeting of the Brainerd School Board is being conducted in accordance with Minnesota Statutes 13D.021 Meetings by Telephone or Other Electronic Means. Persons may monitor this meeting from a remote location by watching on YouTube live. This meeting is being recorded. Access to the recording will be made available on the school district’s website as soon as is reasonably possible. \u0009