Latest news with #Sunward
Yahoo
11-06-2025
- General
- Yahoo
Summer Food Drive benefitting four New Mexico organizations
NEW MEXICO (KRQE) – Sunward Credit Union is partnering with multiple organizations to launch its Summer Food Drive. The summer food drive runs June 16 – 27 and spans three states, including New Mexico. Videos show man in dumpster getting dumped into waste truck in Albuquerque Sunward is collecting non-perishable food items across all of its Southwest region branch locations. All collected food items will benefit local pantries and food banks. Albuquerque Fire Rescue is partnering with Sunward and also accepting food donations at Stations 9 and 17. 'Hunger doesn't follow a calendar and summer is a particularly difficult time for many families in our communities,' Executive Vice President at Sunward, Alex de la Cruz said in a release. The food drive will benefit the following locations in New Mexico: Albuquerque and Rio Rancho – St. Felix Pantry Farmington – ECHO Los Lunas – Valencia Shelter Services Edgewood – Bethel Community Storehouse Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-06-2025
- Business
- Yahoo
Sunward Launches Buy Now, Pay Later Feature to Members, First in New Mexico
Members now get more funds to pay for eligible purchases over time ALBUQUERQUE, N.M., June 4, 2025 /PRNewswire/ -- As more people look to credit unions they know and trust to help navigate their financial needs, Sunward Federal Credit Union (Sunward) announced today that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products in an effort to meet members' shifting payment preferences. Serving over 165,000 members across 16 locations across the Southwest and in California, Sunward is the first New Mexico-based credit union to launch BNPL for its members. This new solution is designed to help Sunward members better manage their budget and access funds to make the purchases they need. Launched in partnership with equipifi, a leading BNPL platform designed for financial institutions, this BNPL program is available to Sunward members through their existing credit union debit cards and checking accounts, embedded within online banking. All offers are pre-qualified and personalized to the member's financial context, ensuring the process is easy and intuitive. "We build our offerings to meet our members where they are and to provide them with an excellent banking experience," said Alex de la Cruz, Executive Vice President at Sunward. "With the launch of BNPL, we are elevating our service offerings with financing options personalized to fit how our members actually live and bank." "BNPL is a must-have tool for consumers to stretch their budget and to achieve their long-term financial goals. For years, they have been asking for it from their trusted financial institutions," said Bryce Deeney, CEO and co-founder of equipifi. "Credit unions have been quick to respond with the solution their members need. By launching flexible payment options, Sunward is committing to a better banking experience for their membership." About Sunward Federal Credit Union Sunward Federal Credit Union is one of New Mexico's largest credit unions, serving over 165,000 members and managing more than $4.2 billion in assets. Formed in 1948 by employees of Sandia National Laboratories, Sunward's footprint spans 16 branches across the Southwest including New Mexico, Colorado and California. Sunward has been named Albuquerque's Best Bank in 2024 by the Albuquerque Journal's Readers' Choice Awards. Anyone can apply to open an account, and members can enjoy access to checking, savings, mortgage, auto, credit card and investment services. Federally insured by NCUA. Equal Housing Lender. For more information, visit About equipifi equipifi is the leading Buy Now, Pay Later (BNPL) platform for financial institutions in the United States. This is a white label solution designed to align with consumer purchase habits, payment preferences, and financial goals. The equipifi platform seamlessly integrates with leading banking cores and digital banking platforms to deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app. For more information, please visit View original content to download multimedia: SOURCE equipifi
Irish Independent
29-05-2025
- Business
- Irish Independent
Food truck firm fails in High Court bid over disputed €2m earn-out following multi-milllion euro takeover
Family had sought court's judgment in advance of independent expert's decision A Co Wicklow-based family firm that agreed to sell its food-van business in 2022 for up to €13m to a Swedish company has failed to persuade the High Court to interfere in an accounting dispute over a more than €2m earn-out fee. The Ward family's Reward Catering business, which was owned by them through a vehicle called Sunward, was established in 2018 to construct mobile catering and food trucks. Its business surged during the pandemic, with the company becoming the biggest of its kind in Europe. The High Court said that: 'Sunward has engaged in what the Supreme Court had described as 'wasteful and premature' litigation' in seeking an advance declaration from it. Swedish conglomerate Teqnion agree to buy the Irish business in August 2022 for an initial €5.2m plus a potential earn-out to Sunward, which is controlled by Kevin, Thomas, Anne and John Ward. That earn-out consisted of three potential payments. The two firms had agreed that future disputes would be resolved by independent experts A first such payment, of €3m, was paid by Teqnion to Sunward. However, the Ward family disagreed with Teqnion's proposed second earn-out payment, which covered the period from September 1, 2023, to August 31, 2024. The earn-out was based on the gross profit the Irish catering-van business generated in a specific period. In October 2024, Teqnion delivered a draft earn-out statement to Sunward, in which it assessed the gross profit of the Irish business during the second earn-out period to be just under €2.8m, but reduced to just under €2.5m. The reason for the reduction was due to six invoices that were issued in August 2024. However, Teqnion didn't treat those transactions as income received until September 2024, when the trucks were delivered. ADVERTISEMENT Teqnion therefore argued that the sale of those trucks didn't fall within the second earn-out period, but the third. The High Court heard that as a result of this change, Teqnion claimed that the second earn-out amount due to Sunward is €222,754, rather than the almost €2.2m which Sunward claimed it would be if the six invoices had been treated as part of the revenue for the second earn-out period. The Swedish company pointed out that the required financial statements had to be prepared in accordance with accepted accounting principles and practices generally accepted in Ireland. Sunward claimed that Teqnion 'impermissibly adjusted' the gross profit in Reward Catering's management accounts by excluding the invoices from the calculations. Under the terms of the acquisition agreement, Teqnion and Sunward had agreed that any future disputes between them would be resolved by an independent expert accountant, rather than resorting to the courts. However, once they had a dispute, and before the expert determination process had commenced, Sunward initiated court proceedings regarding the dispute. It sought a declaration from the court that the expert is not entitled to refer to certain accounting standards in reaching her decision and that she is bound by a definition of gross profit contained in the agreement between the parties. The court rejected that application. 'It is clear therefore that the expert in this case is entitled to apply her interpretation of gross profit to the facts of the dispute and to come up with her adjustments, if any, to the draft earn-out statement, without any interference, in advance, from the courts,' it stated.
