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.

There are more cost-effective ways for even small institutions to analyze data and connect with underserved and niche communities, according to a panel of experts during an NCUA event on financial inclusion.

Renée Sattiewhite has played a key role in the African American Credit Union Coalition for more than 20 years. "For me, if credit unions do not embrace DEI, they will die," she said.

When credit union leaders are open to feedback from members and employees of many backgrounds, they can strengthen workplace morale and attract new customers, inclusion advocates say.

In this month's roundup of American Banker's favorite stories: JPMorgan Chase moves third parties away from screen scraping, Wells Fargo launches its new virtual assistant, bank CEOs predict a return to office within the next three years and more.

During a panel discussion at American Banker's Most Powerful Women in Banking conference, three executives spoke about how mentors helped shape their own careers, and how they continue to provide a pipeline for future generations of senior leaders.

Steve Brewer, who has been with the credit union for roughly 20 years as its chief financial officer, will take the helm on Nov. 1.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

Linh Dang will step into the president and chief executive roles at floridacentral Credit Union on Nov. 1.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.

Local Government Federal Credit Union in Raleigh, North Carolina, has relied on State Employees' Credit Union's guidance — and branch network — since the smaller institution's inception in 1983. But that relationship was never supposed to be permanent.