The deal marks the14th transaction announced this year in which a credit union is acquiring a bank. There were 11 such deals announced all of last year. U.S. Eagle Federal Credit Union plans to [...]
Portia Powell replaces the retiring Hank Hubbard, who served as the credit union’s chief executive for 34 years. One Detroit Credit Union named Portia Powell as its next CEO effective January 2025. Powell will [...]
Providence Federal Credit Union and Consolidated Community Credit Union are planning a 2025 tie-up that will result in an organization with more than 35,000 members. Two Portland, Oregon-based credit unions plan to merge and [...]
By early June, 12 credit union-bank deals had been struck, but dealmaking has been quiet for the past two months. Spokane Teachers Credit Union plans to acquire $550 million-asset Community Bank, which is based [...]
Loan balances for new cars are flirting with levels not seen since the COVID-19 pandemic. New-auto loan balances for U.S. credit unions fell 3.2% through May, significantly below the 1.3% increase reported during the [...]
The CEO will be replaced by CFO Fred Moore. Jim Sessa will step down as president and CEO of Coast Central Credit Union in Eureka, California, on Sept. 18. Sessa has been with the [...]
Wescom Central CU has taken in more than $6 million in fee income so far in 2024 but will remove NSF fees going forward. Wescom Central Credit Union in Pasadena, California, has eliminated non-sufficient [...]
The $859 million-asset lender in Seattle was awarded $383,223 from the U.S. Treasury. Verity Credit Union in Seattle will use a $383,000 grant from the U.S. Treasury to fund a small dollar consumer loan program. [...]
Member One Federal Credit Union and Virginia Federal Credit Union have closed their deal and formed an institution with nearly $7 billion of assets. The membership of Member One Federal Credit Union has approved [...]
Acadia Federal Credit Union said that David Desjardins will step down in July. He will be replaced by EVP Joey Cannan. David Desjardins, who has been the president and CEO of Acadia Federal Credit [...]
Lisa Perrin, who spent five years at the helm of Worcester Credit Union, is the organization’s new CEO. The City of Boston Credit Union has hired Lisa Perrin to be its new president and CEO. [...]
Isaac Johnson concluded his 38-year Army career during an official Change of Command, Responsibility and Retirement ceremony held on July 13. TDECU President and CEO Isaac Johnson has retired from his position as a [...]
Board Vice Chairman Kyle Hauptman voted against the proposal, claiming it could actually hamper succession planning efforts for small credit unions. The National Credit Union Administration approved a proposed rule that would require federally-insured [...]
But an S&P Global Market Intelligence study also found that membership and deposit growth rates have been stronger for credit unions that have acquired a bank. Credit unions that have not struck bank deals [...]
Unlike banks, credit unions do not have to report quarterly earnings, but they often keep close tabs on the results divulged by their bank competitors. JPMorgan Chase, the largest bank in the U.S., reported [...]
The White House Office of Management and Budget said a rule requiring federal credit unions to report executive compensation could soon be on the NCUA board’s agenda. The National Credit Union Administration is considering issuing [...]
Loan balances in the first quarter for U.S. credit unions saw the weakest growth in the past 13 years. Credit union loan balances fell 0.14% in the first quarter of 2024, the lowest growth [...]
CEO warns that current conditions are forcing small CUs to look for partners. Nutmeg State Financial Credit Union in Rocky Hill and First Bristol Federal Credit Union in Hartford said this week that First [...]
1st Choice Credit Union becomes the first institution conserved by the regulator in 2024. The National Credit Union Administration said the action was taken in consultation with the Georgia Department of Banking and Finance. [...]
Tyfone CEO and Co-Founder Siva Narendra was named a finalist in the American Banker 2024 Innovator of the Year Awards. The trade publication named Narendra one of the 20 people doing the most this [...]
The $4.4 billion-asset Apple FCU announced plans to merge with $532 million-asset NextMark Credit Union. The combined credit union will have more than 260,000 members and 25 branches throughout Northern Virginia, the institutions said [...]
The regulator granted a federal charter and share insurance fund coverage to Tribe Federal Credit Union in Minneapolis. Tribe is the first federal credit union to receive a charter under the NCUA’s provisional charter [...]
Richland, Washington-based Gesa Credit Union plans to acquire Centralia, Washington-based Security State Bank. The $5.5 billion-asset Gesa CU becomes the fourth credit union to announce the acquisition of a Washington bank in 2024. Earlier [...]
