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 Jacksonville, Fla.-based credit union is the initial investor in PayverisCU, which will help members with financial wellness and money management.
Loan balances at the end of the second quarter were up by double digits from a year earlier for the Honolulu-based institution.
3Rivers Federal Credit Union in Indiana will pay about $38 million for West End Bank.
Credit unions have announced a number of new hires and promotions in areas such as lending and retail operations.
Those that were prohibited from working at federally insured institutions include a former credit union employee who pleaded guilty to money laundering and embezzlement.
The credit union service organization said the move was part of its focus on marketing technology products.
Lisa Perrin will take over at the Massachusetts-based institution when President and CEO Karen Duffy retires.
America's Credit Union Museum has named new board members while a number of institutions have recruited additional talent.
Accounts that offer high interest rates can bolster fee income and lower noninterest expenses, though credit unions have to carefully watch these products to ensure they actually make money.
A number of credit unions have promoted employees from within their ranks while others have announced new hires.
David Cerwinski, who joined the CUSO in 2006, was appointed president of the technology provider.
Credit unions have hired new executives to oversee areas such as human resources and retail lending while others have been recognized for their achievements.
A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.
The Tucker, Ga.-based institution said the new name reflected its ties to electric cooperatives while affirming its commitment to member service.
In a hyper-competitive job market, credit unions are finding creative ways to keep staff engaged and sweeten the deal for potential new hires.
Executives and directors from across the industry discussed their concerns for the industry and priorities for the next year during this year's NAFCU and CUNA annual conferences.
Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.
As the National Association of Federally-Insured Credit Unions' annual conference kicked off, President and CEO Dan Berger emphasized the trust credit unions have built with members. But there have been a few recent stumbles.
Median annual membership growth stood at just 2% at the end of the first quarter, though delinquencies dropped and ROA got a boost.
Loans grew amid a surge in deposits, while membership surpassed 117 million and industry consolidation continued.