Ken McCarthy

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

The Virginia-based credit union has appointed Executive Vice President Lisa Lambrecht as a temporary successor to former President and CEO Delbert Lee Morgan, following his move to Pen Air FCU.

The number of credit unions having serious conversations about diversifying their boards is on the rise, according to a new study from CUES, but those efforts are more likely to succeed if targets, education and other factors are in place.

The new leaders include some who succeed retiring chief executives retiring and others stepping in after unexpected departures.

The St. Louis-based institution is the latest in the industry to create an executive-level position focused on diversity, equity and inclusion.

Technology is helping some institutions find new growth opportunities as lending contracts, but many CUs also were able to use data to assist members during the early days of the pandemic.

The industry quickly pivoted to remote work once the pandemic hit, but panelists who spoke during CUNA's online Governmental Affairs Conference predicted many institutions will utilize a mix of working from home and in the office once things return to normal.

Bipartisan legislation introduced Monday would permit loans made as part of the COVID-19 relief effort not to count against limits on member business lending.