News

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 [...]

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 [...]

The Ohio credit union is expanding its reach through a high-profile partnership with the Cleveland Guardians and a broader push into community engagement. Century Federal Credit Union, a mid-sized institution based in Independence, Ohio, is deepening [...]

Institutions including Aberdeen Proving Ground Federal Credit Union and Nymeo Federal Credit Union are moving to capture rising demand in the region. Baltimore is emerging as a focal point for credit union expansion, as [...]

First West Credit Union’s rebranding as Tru Cooperative Bank highlights a growing divergence in how the two countries approach competition between banks and credit unions. In a move that would likely provoke controversy in [...]

The proposed combination would create a $3.5 billion-asset institution and extend Metro’s branch network into new communities. Metro Credit Union of Chelsea, Mass., has announced plans to merge with Members Plus Credit Union of [...]

The closure of Copper & Glass Federal Credit Union reflects mounting pressure on smaller institutions and a steady decline in the number of credit unions nationwide. The National Credit Union Administration on Wednesday liquidated [...]

New data shows declining satisfaction and rising account switching could challenge credit unions’ traditional advantage. Credit unions continue to outperform traditional banks in customer satisfaction, but new data suggests that their long-held advantage may [...]