It had been two months since a credit union announced a community bank acquisition, but that dry streak ended Wednesday with NuMark Credit Union’s second bank deal. NuMark Credit Union in Joliet, Illinois, has agreed to [...]
Written By: David Murphy President Marshfield Medical Center Credit Union Last year, the financial services industry was shaken by the announcement of a multi-billion-dollar merger between First Tech Federal Credit Union and Digital Federal [...]
After chartering four new credit unions in 2024, the NCUA Tuesday awarded its first charter of the year to Heritage Hub FCU in Texas. The National Credit Union Administration has handed out the first new federal [...]
Two Detroit-areas credit unions plan a tie-up that would result in a $1 billion-asset institution with more than 63,000 members. Christian Financial Credit Union in Sterling Heights, Michigan, and Catholic Vantage Financial in Livonia [...]
INDUSTRY NEWS Thousands were in attendance at America’s Credit Unions’ Governmental Affairs Conference in Washington D.C. last week – the largest get-together on the credit union calendar. Tyfone was there too, and here are some of our [...]
INDUSTRY NEWS At America’s Credit Unions’ Governmental Affairs Conference this week, panelists suggested that commercial lending still remains a vastly untapped market for CUs. The reasons that credit unions seek to acquire community banks [...]
Written By: Daniel Prezioso Partner Olden Lane As the credit union industry gathers in the nation’s capital for America’s Credit Unions’ annual Governmental Affairs Conference, several risk factors ought to be top [...]
Details of a bank deal announced in January showed that a credit union made a more lucrative offer, but the seller was worried about regulatory hurdles. Some of the scuttlebutt at America’s Credit Unions’ [...]
The National Credit Union Administration Monday said it will stop publishing overdraft and NSF data for individual credit unions beginning in the first quarter of 2025. The National Credit Union Administration will no longer publish overdraft [...]
Credit Union consultant Geoff Bacino said the President’s plan to combine some of the agencies that regulate U.S. financial institutions could be “disastrous.” Former National Credit Union Administration board member Geoff Bacino took the gloves off [...]
After credit unions in Florida last year won a similar victory, CUs in the Palmetto State want the right to challenge banks for public funds. It took five years, but credit unions in Florida last year [...]
During his first meeting as chairman of the National Credit Union Administration, Kyle Hauptman encouraged NCUA employees and consumers not to believe everything they read. While admitting that they are as uncertain about the [...]
Written By: Alan Bergstrom Founder Bergstrom Consulting Services It happens all the time — when budgets get tight, marketing is often one of the first things to be cut. This is especially [...]
APCO Employees CU brought in 20,000 new members and $270 million of assets through two recent deals and felt the time for a rebrand was at hand. APCO Employees Credit Union in Birmingham, Alabama, [...]
A new survey conducted by York Public Relations also found that payment technologies are top of mind for bank executives. Nearly 78% of U.S. banks plan to increase their fintech spending in 2025-2026, a new survey [...]
Written By: Jason Stverak Chief Advocacy Officer Defense Credit Union Council The National Credit Union Administration serves as the cornerstone of the U.S. credit union system, ensuring its safety, soundness, and independence. [...]
After 13 years as the chief executive at Langley FCU, Tom Ryan announced that he will step down at the end of 2025. Langley Federal Credit Union in Virginia is looking for a new leader. The $5.4 [...]
Most of the largest credit unions in the U.S. reported an increase in problem assets last year, an S&P Global study found. An early look at comprehensive U.S. credit union industry data for 2024 [...]
Newport Beach-based Genesis Bank plans to buy Beverly Hills-based Excel Bank, but the purchase price was not disclosed. Veteran acquirer Stephen Gordon and his latest venture Genesis Bank are on the deal path. Genesis [...]
Deidra Miner has been the $1.1 billion-asset credit union’s chief operations officer since 2018. Red Canoe Credit Union in Longview, Washington, has named Deidra Miner as the organization's new CEO. She replaces David Spaulding, [...]
INDUSTRY NEWS Tyfone spoke with the CEOs of four community banks, who said that while the fate of the CFPB remains murky, the outcome is likely to be better than things were. What [...]
Written By: Russell Hunt Senior Managing Director Skyway Capital Markets Cross-industry transactions between different types of regulated depository institutions have been an integral part of the evolving framework of consolidation and delivery [...]
The first-ever credit union-buying-bank transaction announced in New York is now in the books, as observers of the two industries wait for more such deals to break. Hudson Valley Credit Union has completed its acquisition [...]
The credit unions are headquartered just 30 miles apart, but by combining they will extend their reach throughout central Missouri. River Region Credit Union in Jefferson City and Missouri Credit Union in Columbia plan [...]
Orchard Executive Search and Bergstrom Consulting Services are the newest players on the credit union/community bank consulting scene. Two boutique consulting firms have recently been launched, both with the focus of helping community banks and [...]
Written By: Peter Duffy Nationally-recognized advisor to credit union boards "Hey, what's going on?" Borrowing from the song “What’s Up?” by the musical group 4 Non Blondes seems appropriate as many credit [...]
Intercity State Bank will merge into the $2.2 billion-asset One Community Bank in Oregon, Wisconsin, later this year. Intercity State Bank in Schofield, Wisconsin, plans to merge with Dane County-based One Community Bank. Both [...]
The largest three credit unions in the U.S. had varying degrees of success in terms of earnings, membership growth and asset expansion in 2024. How much does a healthy advertising spend impact asset and [...]
The $12.1 billion-asset ICCU enters the Tucson market through its tie-up with Tucson Old Pueblo Credit Union. Idaho Central Credit Union is expanding to Arizona through a merger with Tucson Old Pueblo Credit Union.The deal will [...]
INDUSTRY NEWS The $1.6 billion-asset institution has doubled its size since CEO Steven Bugg took over in 2018. Great Lakes Credit Union continues to use M&A as a vehicle to rapid growth.The Bannockburn, Illinois-based credit [...]
The $6.7 billion-asset organization headquartered in Brookfield, Wisconsin, said that Jay Magulski will step down at the end of 2025. Jay Magulski, the longtime CEO of Landmark Credit Union in Wisconsin, will retire at [...]
Written By: Jeff Marsico President The Kafafian Group The world lost a comedy legend in 2024 with Bob Newhart's passing. His passing reminded me of his classic therapy skit in which he charged [...]
The $1.1 billion-asset LAFCU collected more than $5.3 million in fee income in the first three quarters of 2024. LAFCU in Lansing, Michigan, is slashing its overdraft and non-sufficient funds fee from $32 to [...]
Raichelle Kallery and Kate Bryant both recently took the helm of northeast banks after serving their respective institutions for decades. The Savings Bank in Wakefield, Massachusetts, has named Raichelle Kallery as its new president [...]
Newly-released research from S&P Global Market Intelligence found that four tie-ups were cancelled in 2024, the most since 2021. Five M&A deals in which a credit union would have been the acquirer failed in [...]
Written By: Mark Treichel Former Executive Director NCUA & Founder Credit Union Exam Solutions As someone who spent more than three decades at the NCUA, including serving as Executive Director, my perspective [...]
Industry insiders believe that 2025 could see even more credit union-buying-bank deals than the record 22 announced last year. The first credit union-buying-bank deal of 2025 is also the first such deal ever struck in California.On [...]
State regulators closed the $49.5 million-asset bank on Friday after fraud caused $28.5 million in losses to the FDIC’s deposit insurance fund. In the first bank failure of 2025, Pulaski Savings Bank in Chicago [...]
The $29.7 billion-asset Boeing Employees CU already boasts 1.5 million members but is seeking more in its home state. Boeing Employees Credit Union, the fifth-largest credit union in the U.S., is expanding its reach.The Tukwila, Washington-based [...]
Todd Harper, who was likely serving as the agency’s board chairman for the final time, said he is extremely proud of the regulator’s accomplishments during the past four years. The National Credit Union Administration [...]
Written By: Brandy Bruyere Partner Honigman LLP The tea leaves have settled, and to the surprise of probably very few, the 2025 examination supervisory priorities recently released by the National Credit Union [...]
Ryan Drake only held the CEO position for a year before he and the credit union’s board decided a change was needed. Our Community Credit Union in Shelton, Washington, is looking for a new [...]
The National Credit Union Administration took control of a struggling credit union for the second time in two months. Butler Heritage Federal Credit Union in Middletown, Ohio, became the first credit union to be [...]
M&A deals involving credit unions buying banks have been on the rise in recent years, but the reverse transactions are extremely rare. A record number of deals in which credit unions acquired community banks [...]
Written By: Brad Bolton President and CEO Community Spirit Bank and past Chairman Independent Community Bankers of America As the number of acquisitions of community banks by credit unions skyrocketed at a shocking [...]
The Kansas-based organization said it will have at least eight locations in the Gateway City after merging with Electro Savings Credit Union. CommunityAmerica Credit Union plans to bolster its presence in St. Louis through [...]
Nutmeg State Financial Credit Union CEO John Holt said the CFPB may indirectly be forcing credit unions to increase loan rates to cover other costs. What are the primary issues that credit union CEOs [...]
INDUSTRY NEWS Last year saw a record number of deals involving credit unions buying community banks, but those in the know say you ain’t seen nothing yet. Twenty-two times in 2024 banks across [...]
Cheney FCU and Gulf Coast Educators FCU both welcomed new chief executives into the fold as the calendar flipped to 2025. Gulf Coast Educators Federal Credit Union in Pasadena, Texas, has named Eric Stegall [...]
The previous record of 16 CU-bank deals has long been shattered, and a Michigan credit union snuck in one more transaction before the calendar flipped to 2025. Zeal Credit Union of Livonia, Michigan, has [...]
Written By: Michael Jamesson Principal Jamesson Associates Human beings are pattern-seekers. We are confronted by a world of disparate inputs, and we try to impose order so that we can operate amongst [...]
Hanscom Federal Credit Union in Massachusetts plans to expand its footprint to Maryland with its deal for Peoples Bank. Hanscom Federal Credit Union in Littleton, Massachusetts, plans to acquire the $300 million-asset Peoples Bank in [...]
Flagler Credit Union, a division of Dort Financial, bought the naming rights to Florida Atlantic’s football stadium for $22.5 million. In the latest in a recent series of athletic facility-sponsorship deals struck by credit [...]
The regulator softened the original proposal a bit by lengthening the time credit unions have to review their plans and by removing certain positions from inclusion. The National Credit Union Administration board approved the [...]
The merger of two Los Angeles-based credit unions is the latest but certainly not last in a series of large mergers to hit the credit union space of late. Credit Union of Southern California [...]
Total credit union loans and membership are rising, but the growth is slow and primarily occurring among the largest credit unions. The National Credit Union Administration Thursday released its comprehensive industry data for the [...]
INDUSTRY NEWS Could the banking trades be hurting their own cause by railing so vehemently against the credit union industry? It was American showman P.T. Barnum who was famously quoted as once quipping [...]
Written By: Dan Bagus Director Artisan Advisors Enterprise risk management is a tool to identify and address otherwise unknown threats to your credit union or bank. Adopting an enterprise risk management program [...]
Craig Booth took over as interim chief exec at Island FCU when Bret Sears retired at the end of last year. Island Federal Credit Union in Hauppauge, New York, has named Craig Booth as [...]
SECU Foundation, the charitable wing of the nation’s second-largest credit union, said the funds will help with an expansion of TROSA’s Durham campus. SECU Foundation, the charitable arm of State Employees’ Credit Union in [...]
Roland Hendricks will replace retiring David Sikora as chairman of TDECU as it prepares to rebrand. Lake Jackson, Texas-based TDECU named Roland Hendricks as its new chairman of the board. He replaces David Sikora, [...]
Joseph Sledge was recently convicted of robbing a credit union in Alaska, but he had a stop to make before he spoke to the teller. An Anchorage man walked into a Global Credit Union [...]
The $3 billion-asset credit union in Virginia Beach is adding to its branch footprint while modernizing other existing spaces. Chartway Credit Union is on the move. The $3 billion-asset credit union in Virginia Beach [...]
Written By: Tim Scholten President and Founder Visible Progress LLC In an era where customer expectations, regulatory demands and digital innovation are rapidly transforming the financial landscape, many financial institutions are evaluating [...]
The 15th largest credit union in the U.S. will become FourLeaf FCU early next year. Bethpage Federal Credit Union is rebranding to become FourLeaf Federal Credit Union. Bethpage, the fifteenth largest credit union in [...]
Vocality Community Credit Union has lost nearly $4 million since the start of 2023 and hopes its merger with Community First will help right the ship. An economic downturn in parts of Northern California [...]
Keesler Federal Credit Union and Jefferson Financial Federal Credit Union plan to combine and form a lending powerhouse across Louisiana and Mississippi. In what is being called the largest credit union merger in Louisiana [...]
“According to most financial experts, a ‘normal’ person should allocate between 5% and 10% of their retirement savings to precious metals like gold…aiming to diversify their portfolio while mitigating risk…” – Google AI assistant summary Written [...]
Sam Jimenez was the CEO of 1st Capital Bank in California until the bank’s recent merger with Santa Cruz County Bank. Cascade Federal Credit Union in Kent, Washington, hired Sam Jimenez to be its [...]
INDUSTRY NEWS The NCUA’s proposed rule on succession planning could have a two-pronged effect – putting a chill on mergers and forcing older credit union directors to consider stepping down. A lack of [...]
The National Credit Union Administration will look to stabilize Alliance Credit Union of Florida until it can get back on its feet or a merger partner can be found. Alliance Credit Union of Florida [...]
Its acquisition of First Citrus Bank last year apparently increased DFCU Financial’s appetite for bulking up in Florida through bank acquisitions. DFCU Financial is doubling down on Florida. The Dearborn, Michigan-based credit union announced [...]
Tyfone, a leader in digital banking solutions, won the Credit Union Times Luminaries Award for innovation in digital banking Thursday night. At a ceremony in Orlando, Florida, the editors of the publication announced the [...]
Written By: Brian Lee President and CEO Landings Credit Union Prior to joining my credit union, I spent four years on the other side of the conference room table as a National [...]
Assets, membership and earnings were all on the rise for Navy Federal at the end of the third quarter of 2024 while PenFed saw declines in all of those categories. The two Washington, D.C.-based, [...]
INDUSTRY NEWS The regulator this week unveiled its 2025 budget, slammed Vystar Credit Union and banned four credit union workers for life. It’s been a busy week for the National Credit Union Administration. [...]
Written By: Jason Stverak Chief Advocacy Officer Defense Credit Union Council The Consumer Financial Protection Bureau recently finalized its 1033 rule, mandating that financial institutions provide consumers with greater access to their [...]
Todd Marksberry, who was the CEO of Canvas Credit Union in Colorado for nine years, has been hired by Innovative Partnerships Group. It did not take Todd Marksberry long to land a new gig. [...]
Edward Arthur Nurse, a former employee of Park Side Credit Union in Montana, admitted to stealing $390,000 by exchanging cash with fake bills. A former employee of Park Side Credit Union in Whitefish, Montana, [...]
The $4.6 billion-asset credit union said EVP and chief operating officer Chad Rogers will replace outgoing CEO Boyd Gustke on an interim basis. Boyd Gustke will retire from his post as president and CEO [...]
The regulator has only chartered six new credit unions since the start of 2023 but remains steadfast that the initiative is a priority. The National Credit Union Administration can only do so much to [...]
Prior to 2024, the most credit union-buying-bank deals ever announced in a year was 16, but with more than two months left on the calendar, that record will likely be shattered. Oak Ridge, Tennessee-based Y-12 [...]
JPMorgan Chase and Global Credit Union branches were among those recently hit by thieves in southern California and Anchorage. Federal Bureau of Investigation agents in California and Alaska are searching for men who robbed [...]
The $132 million-asset institution recently announced the hiring of Brian Zuber as its next chief executive. Indiana State University Federal Credit Union has hired Brian Zuber as its next president and CEO. He replaces [...]
Written By: Sam Brownell Founder and CEO CUCollaborate The landscape of credit union chartering has evolved, and one charter type stands out for its performance, growth potential, and strategic advantages: the Multiple [...]
Family Savings Credit Union said it will buy two branches in Dekalb County from Huntsville-based Merit Bank. It is not just whole banks that are being acquired by credit unions this year – a [...]
The $632 million-asset Community First Bank struck a deal with $2.4 billion-asset HAPO Community Credit Union. HAPO Community Credit Union plans to acquire $632 million-asset Community First Bank in Kennewick, Washington. Financial terms of [...]
The $178 billion-asset Navy Federal is collaborating with Fifth Third Bank, Fannie Mae and others to close the homeownership gap between Whites and minorities. Navy Federal Credit Union is joining the Mortgage Bankers Association [...]
After working at the Tempe-based credit union for 12 years, Chris Kearney took the reins as its new CEO effective Sept. 30. TruWest Credit Union in Tempe, Arizona, promoted Chris Kearney to be its [...]
There were 16 such deals announced two years ago, but the tie up between OneAZ Credit Union and 1st Bank Yuma pushes 2024 over the top. And there it is. The most credit union-buying-bank [...]
“Get big or get out.” Written By: Jeff Marsico President The Kafafian Group It’s a phrase that echoes throughout the banking industry, often delivered by investment bankers and advisors as a [...]
Both Self Reliance New York FCU and Ukrainian Selfreliance FCU have struggled to generate earnings in the past year. Two of the nation’s largest credit unions that serve the Ukrainian American community announced plans [...]
Written By: Russell Hunt Senior Managing Director Skyway Capital Markets Since credit unions were established in the U.S in 1908, they have fulfilled their mission by providing financial services to their members. [...]
The most recent digital banking metrics report by Cornerstone Advisors showed that while the adoption of mobile deposits has skyrocketed in recent years, digital account openings continue to lag. During the past three years, [...]
ESL is expected to have total assets of $9.6 billion and will increase its footprint to more than 30 branches at deal completion. In a record-tying deal, ESL Federal Credit Union has agreed to [...]
After announcing two bank acquisitions in seven months, the Lakewood, Washington-based credit union will merge with an in-state peer. Harborstone Credit Union has been among the most acquisitive CUs in the country in the [...]
Data recently released by the NCUA revealed that, at the median, membership declined in 29 states during the past year. Roughly 53% of federally insured credit unions had fewer members at the end of [...]
The NCUA board Thursday said it will no longer ban for a lifetime those who have been convicted of certain crimes The National Credit Union Administration approved a final rule allowing people with convictions [...]
Written By: Daniel Prezioso Partner Olden Lane The pace of consolidation in community banking has accelerated since 2020, as a confluence of factors continues to pressure small financial institutions. The recent period [...]
Texas Dow Employees CU, which operates as TDECU, will change its name to Space City Financial after the completion of its deal with Space City Credit Union. Two Houston-area credit unions plan to merge [...]
