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.
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.
A unit of the Huntsville, Ala.-based institution has acquired Ben Porter Realty and rebranded the company as Redstone Family Realty.
In one of Tuesday's more high-profile primaries, Rep. Kweisi Mfume won the Democratic primary to fill the seat once held by the late Elijah Cummings.
The Warner Robins, Ga.-based institution, which switched to a state charter in 2016, has passed $3 billion in assets.
Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."
Tom Shoemaker initially took the helm in 2017 on an interim basis after the Albuquerque, N.M.-based credit union called off a merger.
Patricia Sarne was named CEO of San Antonio Citizens Federal Credit Union after former chief executive Tim Baldwin retired.
A trio of former credit union employees received lifetime bans from the financial services industry, including one who was accused of stealing almost $15,000.
The regulator has conducted remote exam work at more than 100 institutions since March and does not plan to return to its normal examination process "until further notice."
The latest Credit Union Trends Report from CUNA Mutual Group predicts interest rates will be at record lows for at least two years and earnings are also likely to take a hit from record-high unemployment.
Funds originally slated to assist credit union employees with attending conferences will now be used to help the state league put on virtual events.