News

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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, [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

Ryan Ross takes the helm at UKFCU and is replaced at Soarion CU by Ric Ledezma. University of Kentucky Credit Union in Lexington has named Ryan Ross as its new president and CEO. Ross [...]

Certificates now make up 28% of credit union savings products, the highest level in 15 years. Traditional credit union savings products continue to see declining balances, but certificate of deposits are booming. During the [...]

The eighth largest credit union in the U.S. says it will focus its energies on other markets. Sandy, Utah-based Mountain America Credit Union is selling off its operations in Albuquerque, New Mexico, to Sandia [...]

The Windy City’s United Credit Union has changed its name to Vicinity. United Credit Union in Chicago is rebranding as Vicinity Credit Union. The $293 million-asset organization said the name better reflects its “deep-rooted” [...]

Chad Shane replaces Toddy Marksberry at the helm of $4.5 billion-asset Canvas Credit Union in Lone Tree. Canvas Credit Union in Lone Tree, Colorado, named Chad Shane its new chief executive officer. Shane replaces [...]

Delinquencies and charge offs both increased for U.S. credit unions in the second quarter of 2024, and net income fell by 10%. The latest credit union data paints a less-than-rosy picture for the industry [...]

The League of Southeastern Credit Unions & Affiliates and the Virginia Credit Union League plan to merge, although the timing remains murky. Not only are credit unions merging with increasing frequency, the leagues and [...]

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 [...]

The merger will create a $1 billion-asset organization serving nearly 78,000 members. Two Georgia-based credit unions are the latest to consummate a merger. The $935 million-asset Peach State Federal Credit Union and the $88 [...]

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 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 [...]

A merger of equals recently announced in Florida could set the stage for more credit union M&A. The current operating environment may be driving a growing number of credit unions to consider mergers. That [...]

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 [...]

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 [...]