Credit unions
- Banking
Minority-owned credit unions object to key element of NCUA capital plan
A recent rule change proposed by the National Credit Union Administration could hurt minority-owned credit unions and their members. At…
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Fintechs team up to bring crypto to credit unions
The banking software vendor Finastra and the digital asset marketplace Bakkt look to make crypto more approachable for credit unions…
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Deposit surge puts credit unions in regulatory bind
Consumers have been socking away much more in savings since the start of the COVID-19 pandemic, and that is putting…
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Beehive Federal Credit Union CEO to retire
Shane Berger, longtime president and CEO of Beehive Federal Credit Union in Rexburg, Idaho, plans to retire as head of…
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Alaska USA Federal Credit Union, Global Credit Union to merge
Two credit unions in the Northwest, Alaska USA Federal Credit Union and Global Credit Union, have announced plans to merge.…
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Credit unions want to get into crypto, but worry about regulatory roadblocks
Visions Federal Credit Union wants to offer cryptocurrency services, but is wary of making the leap without regulatory guidance from…
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Maryland credit union adds cross-border payments from Wise
Wise, seeking ways to scale up its cross-border payments solution for financial institutions, has signed up its second credit union.…
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Capital Credit Union in Wisconsin names new CEO
Capital Credit Union in Green Bay, Wisconsin, has named Laurie Butz as its new president and CEO. The $2.1 billion-asset…
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Dupaco Community Credit Union buying a Wisconsin bank
Dupaco Community Credit Union is buying $183 million-asset Home Savings Bank in Madison, Wisconsin, in an all-cash transaction. The seller’s…
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How card issuers inadvertently fueled the buy now/pay later boom
Part of the recent U.S. surge in buy now/pay later loans may be traced to survival tactics credit card issuers…
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NCUA banned four former credit union employees in September
The National Credit Union Administration prohibited four individuals from engaging in any of the activities of a federally insured financial…
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Two Texas credit unions agree to merge
Texas Trust Credit Union in Arlington has inked an agreement to merge with Texas Federal Credit Union in Dallas. The…
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Four credit unions launch challenger bank for low-income people
Four regional credit unions have come together to establish the all-digital banking cooperative Dora Financial LLC. The $5 billion-asset Service…
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Small banks, credit unions warned to brace for pandemic aftershock
Credit union and bank clients — and ultimately the financial institutions where they do business — have been propped up…
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NCUA plan would exempt government funds from subordinated debt rule
Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program could be exempted from the National…
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NCUA allocates surplus funds to technology, security, HR
With budget calculations showing a projected surplus of funding, the National Credit Union Administration is allocating more resources to technology,…
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Minnesota credit unions that split up 81 years ago agree to merge
SPIRE Credit Union and Midland Co-op Credit Union, which were created when Twin City Oil Co-ops Credit Union split into…
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United Southeast Federal Credit Union in Tennessee names CEO
United Southeast Federal Credit Union, headquartered in Bristol, Tennessee, has appointed Shelly Brown as its president and CEO. Brown, who…
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NCUA has asked credit unions to comment on crypto. So far, crickets.
Credit union regulators hoping to set ground rules for the use of blockchain technology and digital assets have asked the…
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The grateful credit union borrower who became an influential director
When the opportunity to get actively involved in a local credit union came in 2003, Anthony Taylor jumped at the…
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‘No going back’: COVID-era benefits likely will become fixtures
COVID-19 changed the relationship between employers and the workforce, and 18 months later human resources departments everywhere are still navigating…
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NCUA wants credit unions to get friendlier with fintechs
As credit unions focus more attention on digital assets and financial technology, leaders at the National Credit Union Administration are…
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ValleyStar Credit Union in Virginia hires new CEO
ValleyStar Credit Union in Martinsville, Virginia, has named Mike Warrell as its new CEO. He succeeds Lisa Lambrecht, who was…
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Wyoming and Nebraska credit unions to merge
Meridian Trust Federal Credit Union, headquartered in Cheyenne, Wyoming, has struck a deal to merge with Western Heritage Federal Credit…
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PenFed’s private jet: Sensible travel expense or symbol of excess?
Pentagon Federal Credit Union’s purchase of a private jet may seem like an example of excess, but it might actually…
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California credit union gains CDFI certification
Excite Credit Union in San Jose, California, has been certified as a community development financial institution. The $650 million-asset Excite…
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Two Eu Claire, Wisconsin credit unions to merge
Two Wisconsin-based credit unions have announced plans to merge. Royal Credit Union, based in Eau Claire with $3.8 billion of…
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Credit unions step up efforts to hire people of color
Credit unions are examining how they address diversity and inclusivity in their hiring and retention practices, and the widespread protests…
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How credit unions are helping communities hit by Ida, wildfires
Still reeling from the damage of Hurricane Ida and west-coast wildfires, many credit unions are working to not only re-establish…
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HomeAdvantage expands agent network to cover 48 states
HomeAdvantage, one of the largest real estate credit union service organizations in the United States, is furthering its expansion in…
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NRL Federal Credit Union to rebrand as Spectra Credit Union
NRL Federal Credit Union in Alexandria, Virginia, is becoming Spectra Credit Union. The $550 million-asset institution said in a press…
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USE Credit Union CEO to retire
Jim Harris, longtime president and CEO of University & State Employees Credit Union, is stepping down from his role as…
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Scott Credit Union strikes second M&A deal in two weeks
The $1.5 billion-asset Scott Credit Union in Edwardsville, Illinois, has agreed to merge with the $52 million-asset South Division Credit…
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Credit unions band together on rewards app. Will it click with consumers?
Several credit union leagues have landed on an idea they hope will help them recruit new members and strengthen loyalty…
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Community banks to Congress: Tax credit union-bank mergers
The Independent Community Bankers of America wants credit unions to pay a price for their purchases of community banks. The…
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NCUA bans six individuals for August
The National Credit Union Administration issued four new prohibition orders and two notices of prohibition for the month of August,…
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Two credit unions in Michigan to merge
Two Michigan credit unions have jointly announced their intent to merge in an effort to expand and serve the entirety…
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Credit unions play catch-up in buy now/pay later
Credit unions haven’t typically been part of the buy now/pay later battle being waged among banks and fintechs, but Tom…
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Credit unions enlist fintechs to vie with commercial, challenger banks
The ongoing challenge for credit unions of how best to upgrade technology to compete with traditional banks and challenger banks…
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The number of credit unions is shrinking. Can the trend be slowed?
The credit union industry has had few de novos and a flurry of mergers in the past few years, so…
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Surge of credit unions buying banks continues with deal in Illinois
The recent surge of deals involving credit unions buying community banks continues. The $1.5 billion-asset Scott Credit Union in Edwardsville,…
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Fairwinds Credit Union buying Citizens Bank of Florida
Fairwinds Credit Union is set to expand its commercial lending portfolio by acquiring a community bank. The $3.9 billion-asset credit…
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Large credit unions join forces as competitive pressures mount
Two upstate New York credit unions plan to merge and, in the process, form a top-30 institution by asset size.…
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South Bay Credit Union hires new president and CEO
South Bay Credit Union in Redondo Beach, California, has hired Paris Chevalier as its president and CEO after a national…
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NCUA tries to meet credit unions halfway on capital rules
The National Credit Union Administration board has approved a proposed rule to allow “complex” credit unions to opt out of…
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Northeast Credit Union names Chris Parker as president and CEO
Chris Parker will succeed Tim Collia as president and CEO of Northeast Credit Union in Portsmouth, New Hampshire Collia announced…
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Pair of Cincinnati credit unions name new CEOs
Two credit unions in Cincinnati, Ohio, have named new CEOs. Kathy Haas, president and CEO of Cincinnati Ohio Police FCU…
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Assets at Dow Chemical Employees’ Credit Union pass $2 billion
Dow Chemical Employees’ Credit Union in Midland, Mich., closed out 2020 by surpassing the $2 billion-asset mark, with assets rising…
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Alliance of women CEOs aims to save small credit unions
Small credit unions, which are largely run by women, are quickly being merged out of existence. The coronavirus pandemic has…
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NCUA liquidates Indianapolis’ Newspaper FCU
The National Credit Union Administration on Wednesday liquidated Indianapolis’ Newspapers Federal Credit Union, making it the first credit union to…
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