The Defense Credit Union Council says a proposed tax on credit unions with more than $1 billion in assets would penalize member-owned institutions while overlooking tax advantages available to some community banks.
The New Mexico credit union is expanding in Rio Rancho and Albuquerque’s South Valley, with both locations expected to open in late 2027.
Georgia’s Own taps longtime executive Eric Broome to succeed Dave Preter, while Michigan’s TLC Community Credit Union promotes 24-year veteran Alycia Nichols.
The approvals bring the number of new federal credit unions chartered this year to two, even as the industry continues to consolidate.
The $204 billion credit union is launching a national campaign to get members thinking about financing before they start shopping.
The regulator’s 2027 spending plan would rise 2.9% as it invests in cybersecurity and technology while reorganizing an agency that cut its staffing by 23%.
The Oregon and Washington credit unions expect to combine by early 2028, creating the state’s second-largest Oregon-chartered credit union while retaining their existing branches.
Financial Plus and Monroe Community credit unions say the proposed combination would expand products and technology while preserving local ties and retaining employees.
Walt Martin, deputy superintendent of Gwinnett County Public Schools, will take the helm of the $1.1 billion credit union as longtime chief executive Marshall Boutwell prepares to step aside after more than 32 years.
Executive pay rose about 4% in the past year, while roughly one-third of credit union chief executives are expected to retire within five years, according to a new industry compensation survey.
The proposed deal would unite two institutions with more than 155,000 members across three states, giving Fort McClellan members access to a broader network and expanded services.
USF Credit Union and Sun East Federal Credit Union have turned to experienced insiders to lead their next chapter as both institutions report stronger earnings.
The Dearborn, Mich., credit union’s planned acquisition of Gulfside Bank would mark its fourth Florida banking deal since 2023, extending its reach into the Sarasota market.
The Kansas City credit union’s growing portfolio of sports partnerships is drawing scrutiny over how a tax-exempt, member-owned institution should spend its money.
Thayne Shaffer, who became chief executive in 2021, will step down in March as the Utah credit union prepares for its next phase after a year of mergers and membership growth.
John Theobald will succeed longtime chief executive Bill Burke on Jan. 1, 2027, as the Ohio credit union seeks continuity after a period of earnings growth.
The Texas and Michigan credit unions will retain separate regional brands but adopt a single corporate name, with MSUFCU’s April Clobes leading the combined organization.
The senator is asking the agency’s inspector general whether a two-week vacancy on the credit union regulator’s board delayed oversight, enforcement actions or payments to depositors of a failed institution.
Consumers Credit Union and Scott Credit Union say the combination would create a 424,000-member institution with more money to spend on technology, lending and community programs.
Jackson Area Federal Credit Union was declared insolvent after months in conservatorship as a separate criminal case against its former chief executive moved forward.
The $7.5 billion-asset corporate credit union has issued 1 million CUUSD tokens on Ethereum for a limited institutional test of dollar-denominated digital payments.
The Tampa-based credit union is extending a partnership inherited through its merger with Launch Credit Union while expanding its broader investment in Florida education.
The Pensacola credit union’s planned acquisition of Peoples Exchange Bank would give it a second bank deal this year as it prepares to become TruWorth Credit Union.
The deal would create a roughly $3.8 billion community banking organization spanning New Mexico and the Borderplex region, with closing expected in early 2027.
Federally insured credit unions posted faster asset and deposit growth in the second quarter, but the median institution continued to lose members.
The $20 billion Chicago credit union is partnering with Neighborhood Intelligence on savings, lending and home-related services, with a broader financial platform planned for 2027.
The $22 billion-asset Sacramento credit union is expanding checking, savings, payments and other services for businesses across California.
The defense credit union group is asking the NCUA to explain what institutions can do under existing law after the Senate failed to advance the Clarity Act.
Family First Credit Union’s Janie Smith said the image was created with ChatGPT as a joke; the institution’s board has rejected the post and is reviewing what to do next.
Eric Church will step down Oct. 5, handing the $1.4 billion Maryland credit union to current President James Wheeler. Eric Church, who has led First Financial Federal Credit Union for more than a decade and [...]
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 [...]
