Frank Gargano

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

The Worldwide Foundation for Credit Unions' Fuel Disbursement Program provided more than 160 farmers with roughly 17,000 gallons of pre-paid fuel. Other groups are supplying computers and printers to help the country's domestic credit unions remain operational.

In this month's roundup of American Banker's favorite stories: the National Credit Union Administration sets its focus on liquidity risk for 2023, an exclusive fireside chat with Venus Williams on pay equity, the Consumer Financial Protection Bureau's funding comes into question and more.

Tom Smith will step down as president and chief executive in May 2023. Smith joined the credit union in 2008 as chief lending officer.

The Morning Star Federal Credit Union in Montana is expected to begin operations sometime in 2023, according to the National Credit Union Administration.

Organizing relief initiatives for Ukraine, launching charities for children's hospitals and growing an institution to more than $4 billion of assets are benchmarks in Foulke's more than 45-year career.

Through lending programs, financial coaching and hiring practices tailored for inclusion, these CEOs provided crucial services to underserved communities.

The National Credit Union Administration found that O.F. Toalston Federal Credit Union and Mingo County Education Federal Credit Union — which were placed into conservatorship last month — would never regain sustainable operations.

Simpler and more inclusive application processes are helping these lenders address the pain points that underserved borrowers encounter at other institutions.

Anderson, who has held leadership positions at Equifax, Wells Fargo and American Express, will succeed longtime CEO Benson Porter on Dec. 5.