Frank Gargano

The National Credit Union Administration unanimously approved modifications to its 2020 rule that raise maturity ceilings on offerings and simplifies redundant language.

Despite growing up as digital natives, this age group now has more complex financial needs than they can typically handle online.

In February's roundup of American Banker's favorite stories: An international African American sorority enters the credit union market; a deep dive into the ideology behind banks giving out free pens; and a rising number of financial institutions are facing a tightening of liquidity and more.

Executives have ramped up initiatives for educating members, staffers and directors on how to gain support from legislators.

Credit unions have individually made progress in making their ranks more diverse and inclusive, but their efforts are starting to bump up against the political discourse over "woke" corporate cultures.

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.

The collapse of the Sam Bankman-Fried's controversial crypto exchange changed consumers' view of digital assets. Credit unions, in turn, pivoted to focus on lower-risk services.

Employees at LMCU's Bonita Beach Road location in Florida announced their intent to organize to address claims of being overworked.

Derrick Bailey, the Ohio credit union's president, will become chief executive as expected. He will succeed Leslie Bumgarner, who announced her plans to retire last year, on July 1.

Community Financial Credit Union is partnering with the hosts of "Bargain Block" to renovate low-cost homes and help prospective buyers qualify for their first mortgage.

Andrew J. Mullins III succeeded Kelly Smith as president and CEO this month. Smith has been interim CEO since 2019.

After a shooting at its sponsoring university left three students dead and five in critical condition, MSU Federal Credit Union is providing mental health assistance to employees and has offered its support to the MSU community.

For Members Only Federal Credit Union in Chicago, which was founded by the African American sorority Alpha Kappa Alpha, is focused on helping members build generational wealth.

Darius Wise was tapped to become the credit union's chief executive in full, after holding the role of interim CEO since May 2022.

The Chicago-based For Members Only Federal Credit Union's mission is "fundamental" to the mission of the industry, according to the National Credit Union Administration.

Ronald Celaschi will succeed Brad Warner, who announced his intention to retire last year.

Ivan Diaz, a former member service representative who led the unionization campaign for staff of the South Division Avenue branch last year, was fired on Feb. 1. He alleges his role in the campaign is the true cause of his dismissal.

The House of Representatives approved a bill that would amend the Federal Credit Union Act to halve the number of board meetings many credit unions would have to conduct each year.

Jason Hall is taking over for Jay Young, who announced his retirement in 2021.

In this month's roundup of American Banker's favorite stories: Development of central bank digital currencies gains momentum, ongoing lawsuits against JPMorgan Chase and PNC address the banks' liability and more.