Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Home-renovation loans to add features such as offices and pools could be one source of lending as credit unions struggle with overall sluggish loan demand.
Cadmus Credit Union agreed to merge into Chartway Federal Credit Union after one of its select employer groups said it would shutter the facility where its only branch was located due to business issues that arose from the coronavirus.
The streak of strong gains for new members was flagging by the end of 2019 and has only worsened since then.
Jason Werts will take over as the leader of the Clackamas, Ore.-based institution in August. He is currently COO of Unitis Community Credit Union in nearby Portland.
Combining the two Southern California-based institutions will create the state's eighth-largest credit union. The deal is also a homecoming of sorts of Xceed CEO Teresa Freeborn, who was previously an executive at Kinecta.
Jeff Carpenter, who is currently the president and CEO of CME Federal Credit Union, will take over next year when Brent Taylor retires.
Switching core banking systems has long been done face to face, but the pandemic has driven the process into the digital arena. The change could be permanent.
Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent.
The National Credit Union Administration's first-quarter look at credit union performance by state includes several metrics where the industry did not fare well.
The coronavirus pandemic has highlighted the issue of millions of Americans lacking access to high-speed internet at their homes. Financial services firms haven't been spared from this challenge.