Ken McCarthy

Cal Poly Federal Credit Union's recent merger into SchoolsFirst highlights the difficult choice many small institutions face: diversify your field of membership or risk going out of business.

The Methuen, Mass.-based institution's newest CEO was born in the same town and has more than a decade of experience in the credit union industry.

A report to Congress from the National Credit Union Administration says the regulator has made "steady strides" toward greater diversity in its workforce and operations, but that progress is "just the beginning."

Some institutions for more than a year have reduced or eliminated overdraft and funds transfer fees to help members hard hit by the economic downturn, but it's unclear how much longer they can keep coasting on other sources of noninterest income.

As the World Council of Credit Unions and its Worldwide Credit Union Foundation work to advance cooperative finance around the globe, one of the industry's biggest players has committed to matching donations up to $1 million.

Banking trade groups have called for congressional hearings following the Jacksonville, Fla.-based credit union's agreement to purchase the $1.6 billion-asset Heritage Southeast Bank, the largest deal of its kind to date.

Ann Dubie stepped down from the Joliet, Ill.-based credit union in March after 20 years at the helm.

Over half of all credit unions with less than $250 million of assets are run by women, but those institutions continue to be merged out of existence. A group of 13 women who lead such organizations have banded together in an effort to ensure their survival.

The deal will see the $16 million-asset Georgetown FCU join the $258 million-asset PAHO/WHO. The combined institution will serve more than 7,500 members.

John Servos spent the last dozen years as CEO of the St. Louis-based Neighbors Credit Union.

Rex Johnson, who helped found the New Jersey credit union in 1980, was 77.

The new name is meant to position the credit union as a leader in technology and service.

Truity Credit Union in Oklahoma is selling its only branch in the state.

Proposed legislation would amend language in the Federal Credit Union Act to make it easier for credit unions to expel disruptive or abusive members.

The National Credit Union Administration issued only one prohibition order in March, barring a former branch manager of Greater Iowa Credit Union in Ames from working in the financial services industry.

The credit union has made a four-year commitment to support the 1921 Tulsa Race Massacre Centennial Commission and Greenwood Rising, a local history center.

Data from the National Credit Union Administration shows the two states are bucking the trend of slowdowns in membership and lending.

Matthew Gehman will take the helm at the Lancaster, Pa., institution on April 1, succeeding W. Kent Hartzler, who has been CEO since 2007.

A planned combination of Maine State Credit Union in Augusta and Midcoast Federal Credit Union in Freeport has been nixed despite receiving approval from regulators.

Some institutions have experimented with cash-based rewards to kick-start membership growth, but it's unclear whether the strategy will be widely adopted.