News

Red Canoe CU in Washington taps insider as next CEO

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, [...]

Community bank CEOs: CFPB had it coming

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 [...]

Cross-Industry mergers are not a one-way street

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 [...]

Missouri CUs merge to cross critical $1B mark

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 [...]

Wisconsin bank to merge as longtime CEO retires

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 [...]

Navy Federal grows while SECU, PenFed stagnate

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 [...]

Great Lakes CU uses M&A to forge steep growth trajectory

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 [...]

Landmark CU in Wisconsin begins search for next CEO

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 [...]

California’s first-ever deal kicks off 2025 CU-bank M&A

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 [...]

Chicago bank becomes first failure of 2025

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 [...]

BECU digs in to defend home turf in Washington

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 [...]

MDIs, wildfires top of mind for shifting NCUA board

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 [...]

Turning the tables: Bank to buy credit union

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 [...]

CU-bank deals: A look back and a look forward

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 [...]

Correlations denied, new rules needed

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 [...]

P.T. Barnum and the credit union-bank feud

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 [...]

SECU supports local rehab facility with $1 million grant

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 [...]

Snacks first, then cash for credit union robber

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 [...]

Is your core banking system still the core you need?

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 [...]

Bethpage FCU turning over a new leaf

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 [...]

There’s gold in them thar…credit unions?

“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 [...]

Michigan Credit Union strikes another deal for a Florida bank

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 [...]

CEO to retire from Connexus CU in Wisconsin

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 [...]

TruWest taps insider to be next chief executive

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 [...]

Why do banks need scale?

“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 [...]

West Virginia bank sells to South Carolina credit union

REV Federal Credit Union in Summerville, South Carolina, will enter ‘almost heaven’ with the acquisition of First Neighborhood Bank in Spencer. For the first time ever, a West Virginia-based community bank plans to sell [...]

Georgia Heritage FCU finds next CEO at in-state peer

The $149 million-asset institution hired Matt Selke to replace retiring chief executive Dale Taratuta. Georgia Heritage Federal Credit Union in Savannah has named Matt Selke as its next president and CEO. Selke most recently [...]

Northwest FCU secures Commanders’ stadium naming rights

Northwest Federal became the NFL’s Washington Commanders’ official credit union partner last year, and the two sides have now taken the relationship to the next level. Northwest Federal Credit Union has acquired the naming [...]

Navy Federal sails into the City of Brotherly Love

The world’s largest credit union has opened three branches in Philadelphia and has more on the drawing board. Navy Federal Credit Union is making a push into the Philadelphia area. The world’s largest credit [...]

No SSN, no problem, says Massachusetts credit union

INDUSTRY NEWS SouthCoast FCU says a passport and a proof of address is enough to get a banking relationship started. SouthCoast Federal Credit Union in New Bedford, Massachusetts, will now open accounts for [...]

Democracy takes work – especially in a cooperative

By Chip Filson, former NCUA regulator and co-founder of the consulting firm Callahan & Associates Written By: Chip Filson Former NCUA regulator and co-founder Callahan & Associates “Dictatorial systems make one [...]

UCCU taps insider as next chief executive

Justin Olson will replace retiring Bret VanAusdal as the CEO of Utah Community Credit Union. Utah Community Credit Union has named Justin Olson as its next president and CEO. Olson has been with the [...]

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