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.
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.
The coronavirus has highlighted the issue of millions of Americans lacking access to high-speed internet at their homes. Financial services firms weren't spared from this challenge.
Small businesses have been hard hit by the pandemic, meaning commercial lenders are considering how they can better manage risk in this portfolio and make other changes to help.
Nick Darvill, who is currently president of the credit union service organization, will take over as CEO when Jim Gallagher retires from that position.
The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.
Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.
The North Chesterfield, Va.-based institution joins a list of banks that are also closing to commemorate the end of slavery.
First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.
The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.
The credit union will pay an undisclosed amount for Community State Bank of Southwestern Indiana.
The Odon, Ind.-based credit union would gain six branches by acquiring Community State Bank of Southwestern Indiana.
In an effort to help the industry manage the economic downturn, some credit unions won't be required to submit plans to lower their retained earnings for the rest of this year.
The industry granted about 21% of these loan applications after three months of record lows.
The Credit Union National Association filed the class action suit in 2017 after roughly 147 million people had personal information exposed through a hack of the credit reporting agency.
Butte Community Federal Credit Union, which previously served just one county, added five more after getting regulatory approval.
Credit union executives have led teams through past crises, but the pandemic has created new economic stresses and mental strain that CEOs must address.