Ken McCarthy

Mike Swalley, the longtime president and CEO of the North Chesterfield, Virginia, credit union, will retire next year. An internal search committee has partnered with D. Hilton Associates to find a successor.

The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

Vermont State Employees Credit Union is attracting new cannabis clients so rapidly that it had to press the pause button to add staff. Another New England lender, Needham Bank, is building its own pot banking business through acquisition.

The Saginaw credit union named Derrick Barber as its new president and chief executive. Barber will succeed Gerald Hutto, who will be retiring.

Geoff Bullock will succeed Phil Jones, who is retiring after 15 years of leading Harborstone.

Jennifer Borowy, Michigan First Credit Union's chief operations officer, will take over as chief executive when Michael Poulos, the longtime CEO, retires in October.

The $10.7 billion-asset credit union said 42 employees were terminated, primarily in commercial banking and mortgage lending-related positions, after the refi business "dried up."

The $536 million-asset credit union said the investment will "improve lives and close the racial and gender opportunity gaps" in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

SCU Federal Credit Union in Brockton, Massachusetts, named Glenn Parsons its new president and CEO. He succeeds James Carlson, who is stepping down after 22 years in the position.

U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.