New-home mortgage applications fell for a fifth straight month in August, even as the Tennessee credit union adds a 12-person team and three offices to its mortgage business. Mortgage demand for newly built homes [...]
The nation’s federally insured credit unions reached $2.5 trillion in assets in the second quarter as membership and lending continued to expand. The nation’s credit unions continued to grow in the second quarter, with [...]
The Virginia credit union will add two branches as First Bank trims its footprint, continuing a run of credit union expansion through whole-bank and branch deals. ABNB Federal Credit Union has cleared the regulatory hurdles for [...]
William J. Mellin will leave the New York Credit Union Association at year-end after presiding over a period of sharp growth in the state’s credit union sector. William Mellin, who has led the New York Credit [...]
John Marshall Bancorp and Eagle Financial Services are combining their community banking operations in a transaction expected to close early next year. Two Virginia community banks are joining forces in a stock deal that [...]
The credit union trade group wants Congress to use the 2027 defense authorization process to advance three measures affecting liquidity, lending terms and veteran-owned businesses. The Defense Credit Union Council is pressing congressional leaders to [...]
The combination of Sierra Central and First U.S. Community would create a 114,000-member institution with 23 branches across the region. Sierra Central Credit Union and First U.S. Community Credit Union plan to merge, creating a Northern [...]
Annalesa Vernon will take over in January after Shane London’s 14-year tenure helped nearly triple the Utah credit union’s assets. Deseret First Credit Union will have a new chief executive in January, with Annalesa [...]
Federal regulators say financial institutions can explain suspected fraud and account restrictions without violating suspicious activity report confidentiality, as long as they do not disclose the existence of a SAR. Federal banking and financial-crime [...]
Two company executives — Mitch Rosenbaum and Alex Berman — have been named finalists for Credit Union Times’ 2026 Luminaries Awards. Tyfone will have two executives represented at this year’s Credit Union Times Luminaries [...]
The agency accused employees in Indiana, Alaska and Arizona of using member or credit union funds for personal benefit. The National Credit Union Administration issued three prohibition orders in August against former credit union [...]
Werner will step down next spring after nearly 14 years leading the Philadelphia credit union through a period of growth, expansion and technological change. Rob Werner, president and chief executive of Ardent Credit Union, plans to [...]
Canvas and Keesler Federal are deepening university partnerships, using athletics to build brands, reach students and strengthen ties in their home markets. Credit unions in Colorado and Mississippi are putting a more visible stamp [...]
Federal prosecutors accuse a former Pennsylvania credit union director of using an elderly woman’s retirement savings to buy property and equipment for himself and his family. A former board member of a Pennsylvania federal [...]
The deal would create a more than $28 billion-asset credit union serving more than 1.6 million members and give Greater Nevada members access to a larger branch network. America First Credit Union and Greater [...]
The Pensacola credit union is seeking to acquire Madison County Community Bank while preparing to rebrand as TruWorth Credit Union. Gulf Winds Credit Union is pursuing two major changes at once: a proposed acquisition [...]
Harry Zhu will succeed Gary Swindler, who is retiring after 37 years at the $5.1 billion Washington credit union. Washington State Employees Credit Union has chosen Harry Zhu as its next president and chief executive, turning [...]
The Asheville, N.C., bank plans to acquire Blue Ridge Bankshares in an all-stock deal that would create a more than $7 billion regional lender with over 60 locations across the Southeast. HomeTrust Bancshares has agreed to [...]
The Eugene, Ore., credit union has signed a nonbinding agreement to sell its 53,000-square-foot headquarters to Costco while it remains largely remote. Oregon Community Credit Union plans to sell its headquarters to Costco and [...]
Bipartisan legislation would give federally chartered credit unions more latitude to invest, potentially changing how they manage their balance sheets and price financial products. A bipartisan pair of House lawmakers is seeking to give [...]
State regulators say the proposed acquisition of Hicksville Bank by Interra Credit Union is not unsafe or unsound, despite opposition from Ohio’s banking industry. Ohio regulators have cleared a significant hurdle for Interra Credit [...]
Vanessa McGarry takes over as CEO of GeoVista Credit Union after spending four decades at the Hinesville institution alongside retiring leader Elaine Tuten. After 52 years at the helm of GeoVista Credit Union, Elaine [...]
His move to the PCAOB ends his tenure at the credit union regulator, as a successor awaits his oath of office. Kyle Hauptman was sworn in Monday as a member of the Public Company [...]
The Free Speech Coalition says widespread account closures have left workers and businesses searching for a financial institution of their own. The Free Speech Coalition, the trade association for the U.S. adult entertainment industry, [...]
The latest liquidation by federal regulators adds to a growing list of newly chartered credit unions that have failed within just a few years of opening. The National Credit Union Administration has liquidated African [...]
The merger would create a $2 billion community bank with 21 offices across the New York metropolitan area, expanding its footprint from Queens to Long Island and northern New Jersey. Alma Bank has agreed to acquire [...]
The Rome-based credit union will add 27 counties to its field of membership as earnings more than double in the first half of 2026. AmeriCU Credit Union, a $3 billion institution based in Rome, [...]
The proposed combination would create a six-state organization representing 458 credit unions with $528.4 billion in assets and 36.2 million members. Two major regional credit union trade groups are moving toward a merger that would create [...]
An Alabama credit union has completed the state's first transaction under a mortgage program designed to help homeowners escape the "lock-in effect" created by higher interest rates, a challenge that has reshaped the housing market in recent years. [...]
The longtime Bangor Savings Bank executive will succeed Bob Montgomery-Rice, who is retiring after more than two decades with the Maine institution. Bangor Savings Bank will turn to one of its longtime executives to [...]
State Employees nears $60 billion in assets as Boeing Employees’ earnings decline, underscoring a mixed picture for the industry. Two of the nation’s largest credit unions continued to grow their memberships and assets in [...]
The Bakersfield credit union is using a mobile-phone partnership to cut members’ bills while creating a new digital path for attracting customers across California. Safe 1 Credit Union is betting that a service most people use [...]
The acquisition of Indiana-based Finward Bancorp would expand First Financial’s Chicago-area deposits to more than $4 billion as regional banks continue to seek scale through consolidation. First Financial Bancorp. has agreed to acquire Finward [...]
The new CEO says physical locations still matter, even as Wisconsin's largest credit unions expand through acquisitions and digital banking. Roughly nine months after taking the helm of one of the Midwest's largest credit unions, Timothy [...]
The partnership reflects a growing push by credit unions to use college sports sponsorships to reach younger consumers and expand their brands. Citadel Credit Union is making a prominent play for visibility in Philadelphia, [...]
The planned acquisition of Willamette Valley Bank would give the Washington credit union its first Oregon retail branches as credit union-bank mergers continue despite a slower pace this year. Gesa Credit Union is expanding [...]
A Pennsylvania credit union is leading a national effort that argues financial stability can play a critical role in preventing veteran suicide before a crisis begins. A small central Pennsylvania credit union is spearheading [...]
Police are searching for two masked suspects who fled with cash and customers' belongings after a daytime robbery at a Security Service Federal Credit Union branch. Two masked men armed with weapons robbed a [...]
Mark Dunkley will succeed retiring President and CEO Dee Crisp as the Austin credit union looks to build on steady growth in Central Texas. Government Employees Federal Credit Union has appointed longtime executive Mark Dunkley as [...]
The trade group says Congress must ensure credit unions can compete alongside banks as lawmakers finalize legislation to regulate digital assets. As Congress moves closer to establishing a federal framework for digital assets, the [...]
As its membership expands beyond its public health roots, the Arlington-based institution is rebranding as Bienestar Federal Credit Union while betting on growth in a competitive financial services market. After more than seven decades [...]
New locations in California and Pennsylvania underscore how many institutions are still investing in physical banking even as digital services expand. Three credit unions on opposite sides of the country are expanding their branch networks, betting [...]
The regulator cited unsafe and unsound practices as it took control of WeDevelopment Federal Credit Union, the fourth conservatorship of the year. The National Credit Union Administration has placed WeDevelopment Federal Credit Union in [...]
Banks and credit unions are presenting a rare united front, arguing that federal law — not state legislation — should govern interchange fees charged by federally chartered credit unions. Credit unions and banks, often [...]
The Iowa credit union is opening new branches across the Minneapolis-St. Paul suburbs as it builds on its 2023 entry into Minnesota. Veridian Credit Union is accelerating its expansion in the Twin Cities, opening a new [...]
The Massachusetts banking company is buying Primary Bank while overhauling its ownership structure in a sweeping expansion plan. Hometown Financial Group is making its biggest strategic move in years, agreeing to acquire New Hampshire-based Primary Bank [...]
Mike Tucker retires after overseeing years of rapid growth, handing leadership of the Parkersburg institution to longtime executive Cindy Turner. After more than three decades leading one of West Virginia's largest credit unions, Mike [...]
Following allegations of a $95 million embezzlement at a Mississippi credit union, community bankers are urging Congress to require federally chartered credit unions to disclose the same tax filings as most other tax-exempt organizations. [...]
Rock Valley Credit Union will absorb neighboring Rockford Municipal Employees Credit Union, expanding services for members while preserving the smaller institution's legacy. Two northern Illinois credit unions have completed a merger that leaders say [...]
The $7.7 billion credit union plans to open five Madison-area branches by the end of 2027, extending a broader expansion campaign that includes acquisitions and new markets across Wisconsin and northern Illinois. Landmark Credit [...]
The combination would create a nearly $5 billion community banking company spanning four fast-growing Southern states as regional banks continue pursuing scale. Community banking consolidation continued across the Southeast last week as Georgia-based Colony [...]
The $9 billion Kansas credit union’s long-term partnership with the University of Arkansas reflects a growing push by financial cooperatives into high-profile athletics, even as critics question the strategy. The University of Arkansas has reached a [...]
The $1.6 billion California credit union turns to its former finance chief after longtime leader Kathy Duvall stepped down, as the institution looks to build on decades of steady growth and community service. San [...]
In an op-ed published by Buffalo Business First, Chris Keller says businesses can attract customers with promotions but retain them through visible, consistent commitments to their communities. As Buffalo’s downtown population continues to expand, [...]
The Spokane Valley institution says a surge in lending reflects years of investment in technology and member services, even as it continues expanding across Washington and Idaho. When Numerica Credit Union funded nearly $115 million in [...]
The move comes as federal regulators seek to simplify chartering, even as only a handful of new credit unions are created each year. Starting a new credit union has become such a rare undertaking [...]
The combination of Old Dominion National Bank and National Capital Bank would create one of the largest community banking organizations headquartered in the Washington region and position the company for a public exchange listing. Two community [...]
Federal complaint alleges years of concealed transfers funded luxury purchases, real estate and personal accounts as regulators move to stabilize the institution. The former president and chief executive of Jackson Area Federal Credit Union [...]
New research from TruStage points to slowing vehicle sales and shrinking loan balances, suggesting continued pressure on one of credit unions’ most important lending categories. Credit unions are likely to face another challenging year [...]
Stars and Stripes reported that a former Army recruiter admitted using prospective recruits’ identities to open fraudulent accounts at the world’s largest credit union, underscoring the ongoing challenge of identity theft in military financial services. [...]
Net income across federally insured credit unions jumped more than 30% in the first quarter, offering fresh evidence that the industry is benefiting from a more favorable lending environment even as consolidation continues. The [...]
After 45 years at the institution, David Suvall will retire as chief executive, handing the reins to another veteran executive as profits rise. The leader of one of Rhode Island’s established financial cooperatives is [...]
California’s largest credit union is opening seven new locations, underscoring a growing belief that physical branches still matter even as banking moves increasingly online. For years, the banking industry largely agreed on one thing: [...]
The proposed deal would unite two healthcare-focused institutions and add nearly 30,000 members to Baxter Credit Union’s growing footprint. Baxter Credit Union, a $6.5 billion-asset institution based in Vernon Hills, Ill., has agreed to [...]
The deal gives the Mentor-based credit union a foothold in downtown Cleveland while preserving a niche institution long focused on serving musicians and artists. Cardinal Credit Union is expanding its presence in Northeast Ohio [...]
The move follows months of regulatory oversight and comes as federal regulators grapple with mounting challenges among the nation’s smallest credit unions. A small California credit union that spent months under federal conservatorship has [...]
The Oregon credit union turns to a longtime industry leader as it looks to move beyond a leadership transition and a difficult financial year. Forrit Credit Union has appointed veteran credit union executive Aaron [...]
The enforcement actions include one criminal-conviction case and four consent orders involving allegations that collectively caused millions of dollars in losses to credit unions. The National Credit Union Administration has permanently barred five former [...]
The Denver-based credit union is using humor and a fictional banking executive to highlight longstanding differences between credit unions and traditional banks. As tensions between banks and credit unions continue over taxation and industry [...]
Two recent bank sales highlighted a broader debate in regional banking over whether midsize institutions can still compete as technology costs and regulatory demands rise. At a banking conference in Dallas this spring, two [...]
The Virginia-based lender is opening new branches in Virginia Beach and Utah even as more members shift toward digital banking tools. At a time when many financial institutions are shrinking their physical footprints, Chartway Credit Union [...]
A session at CrossState’s annual Connect conference highlighted how smaller financial institutions are trying to keep younger members engaged long after the first savings account is opened. At a conference in Atlantic City this week, executives [...]
Geoff Bacino said John Crews’ nomination answers who may lead the agency next, but leaves unresolved questions about the future composition — and institutional knowledge — of the NCUA board. The White House nomination of John [...]
As credit unions acquire more community banks, industry groups in Ohio are escalating a battle over taxes, lending and the future of local finance. A fight that has simmered for years between banks and credit unions [...]
A proposed tie-up between LOC Credit Union and Advantage One Credit Union would create a $750 million institution serving members statewide as smaller lenders grapple with rising technology costs and competitive pressure. Two Michigan credit unions [...]
The acquisition gives the Michigan-based credit union a larger foothold in the Chicago market as credit unions continue pushing deeper into community banking. Michigan State University Federal Credit Union has completed its acquisition of Gold Coast [...]
The upstate lender is betting that a larger physical presence in Rochester can strengthen its position in an increasingly competitive regional banking market. Community Bank is expanding its footprint across the Rochester region with [...]
The El Paso credit union is entering a new phase of growth as it pursues a bank acquisition and expands deeper into Texas and New Mexico. GECU, the largest locally owned financial institution in [...]
The Sacramento credit union is deepening its presence on campus as rising student demand for food, housing and financial support reshapes how colleges and financial institutions work together. Golden 1 Credit Union will invest [...]
Jackson Area Federal Credit Union becomes the third institution conserved by regulators this year as pressure mounts on smaller lenders. The National Credit Union Administration has placed Jackson Area Federal Credit Union into conservatorship, [...]
The proposed partnership between Team One and CASE reflects a broader push among regional lenders to scale operations and meet rising digital expectations. Two Michigan-based credit unions with roots in serving educators and local communities have [...]
A proposed acquisition by an out-of-state credit union has set off a legal and political fight over who is allowed to own banks in Ohio. The prospect of a credit union acquiring an Ohio-chartered [...]
The world’s largest credit union added more than $6 billion in assets in the past quarter alone, according to newly released regulatory data. Where once there were no credit unions in the U.S. holding more [...]
The closure of People Trust Community Federal Credit Union underscores mounting pressure on the nation’s smallest financial institutions. The National Credit Union Administration on Thursday liquidated People Trust Community Federal Credit Union in North [...]
The deal reflects a growing wave of credit union acquisitions of banks, a shift that has drawn sharp criticism from industry trade groups. Interra Credit Union, a nearly $2 billion-asset institution based in Goshen, Ind., has [...]
The fintech company’s move to establish Mercury Bank, N.A. signals a broader push by digital platforms to gain control over core banking services. Mercury, a San Francisco-based financial technology company serving more than 300,000 customers, has [...]
The proposed combination would create a $7 billion-asset institution as consolidation continues to reshape the credit union industry. Two large Southern credit unions, one based in Tennessee and the other in Georgia, said they [...]
The launch of Generations Community Bank marks the state’s first new bank in nearly two decades and aims to address persistent racial wealth gaps. A new bank opened its doors in Indiana last week [...]
Rising fuel prices and everyday expenses are reshaping household finances, pushing more consumers toward short-term borrowing and payment relief options. In Portland, Mich., a growing credit union is getting a close look at how higher prices [...]
The proposed deal would create a nearly $6 billion institution serving more than 360,000 members, underscoring steady consolidation across the credit union industry. Truliant Federal Credit Union and Piedmont Advantage Credit Union, two long-established institutions based [...]
The leadership transition comes as longtime chief Terry Dorilas retires after more than a decade guiding the South Boston institution. Mass Bay Credit Union, a community lender based in South Boston, Massachusetts, has appointed Kelli Cullen [...]
The transaction will expand United’s presence in Northeast Georgia and deepen its foothold in the fast-growing Gainesville market. United Community Banks has agreed to acquire Peach State Bancshares in a stock-and-cash transaction valued at [...]
An Olympia-based chief executive says the policy begins to level the playing field as credit unions expand through acquisitions. A new law in Washington targeting credit union acquisitions of community banks is reshaping a [...]
In a Tyfone interview, 7 17 Credit Union CEO John Demmler describes how inflation is reshaping borrowing and driving demand for flexible financial solutions. As rising fuel prices and the cost of everyday goods [...]
Delta Community’s CEO says borrowers remain active despite elevated prices and economic uncertainty, underscoring the importance of financial readiness. As spring ushers in one of the busiest seasons for home and automobile purchases, rising interest rates [...]
The latest Cost of Car Ownership Index shows transportation expenses rising far faster than wages, intensifying financial pressure on American households. The cost of owning a vehicle in the United States reached a record high in [...]
Industry leaders urge regulators to ensure equitable access as the NCUA moves to implement the GENIUS Act and define the role of digital assets in the financial system. Credit unions are pressing federal regulators to adopt [...]
The merger will unite two community banks with deep regional ties and strengthen financial services across South Texas. Coastal Bend Bancshares, the holding company for First Community Bank, has agreed to acquire First National [...]
The Wichita-based institution said the planned leadership transition in 2027 will build on decades of growth and position the credit union for continued innovation. Mid American Credit Union, a Wichita-based financial institution with $511 [...]
Adams Community Bank and Pittsfield Cooperative Bank said their combination will strengthen community banking in western Massachusetts while keeping decision-making rooted in the region. Two long-standing community banks in western Massachusetts have agreed to merge, joining [...]
