Frank Gargano

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.

First Central Credit Union in Waco, Texas, agreed to purchase the branch and various assets from the bank, which is refocusing on its Harris and Tyler County markets.

The National Credit Union Administration has held the rate cap for loans issued by federally-chartered institutions in place since 1987, despite recent calls to raise it.

Interest rates, liquidity and credit are among the National Credit Union Administration's top concerns.

Caren Gabriel, who joined the credit union in 1985 as a staff attorney and became president and chief executive in 2004, will be succeeded by executive vice president and chief operating officer Matt Jernigan on April 8.