Frank Gargano

SPIRE Credit Union and Midland Co-op Credit Union both began as Twin City Oil Co-ops Credit Union, but separated in 1940 at the recommendation of regulators.

Shelly Brown, who was most recently the credit union’s senior vice president of operations, was tapped to lead the institution.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Community Owned Federal Credit Union in Charleston is the third institution that the National Credit Union Administration has closed this year.

Rodney Hood, a member of the National Credit Union Administration's board, detailed plans, such as the formation of an Office of Innovation and Access, to foster collaboration between credit unions and the tech community.

Meridian Trust Federal Credit Union and Western Heritage Federal Credit Union plan to combine into an institution with more than $600 million of assets and roughly 40,000 members.

Excite Credit Union in San Jose, now a community development financial institution, says over 60% of its lending caters to consumers in low-income brackets.

Royal Credit Union is combining with Utilities Credit Union. Royal recently agreed to purchase Lake Area Bank in Lindstrom, Minnesota.

In the face of widespread power outages and supply shortages, credit unions are doing everything from offering low-interest emergency loans to providing bottled water and hot meals.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

John Faust plans to step down next year, concluding a nearly 30-year tenure as president and CEO of Diamond Credit Union.

Jim Harris, who has been president and CEO of University & State Employees Credit Union since 2006, is stepping down from those roles but will remain with the credit union to facilitate succession planning.

The National Credit Union Administration issued four prohibition orders and two notices of prohibition against individuals accused of theft, misappropriation of member funds and making fraudulent loans, among other allegations.

LOC Federal Credit Union and MemberFocus Community Credit Union aim to utilize the flexibility of the latter’s state charter to enlarge membership.

Some credit unions are leaning heavily on tech partners to speed payments and loan decisions, offer online financial planning sessions and deploy virtual assistant technology developed at MIT.

It would be the second bank acquisition for Fairwinds, which bought Friends Bank in Florida in 2019.

The choice of Greg Young as the next president and chief executive comes nearly a year after Karl Yoneshige announced his plans to retire from the role.

Many credit unions with less than $100 million of assets struggle with marketing and technology. Larger ones are willing to lend support, and the Credit Union National Association is working to dispel fears that prospective mentors are simply looking for takeover targets.

The Credit Union National Association initiative helps promote eligibility requirements to potential members. It has added six new participants in Georgia.

The credit union tapped Kenneth Orgeron, its chief operating officer, to serve as acting CEO.