Ken McCarthy

Both Florida State University Credit Union and Florida Department of Transportation Credit Union are based in Tallahassee.

Mark Drinnon succeeds Beverly Boling, who retired from the CEO role in September.

The National Credit Union Administration's board made a quick adjustment to its subordinated debt rule after critics warned it could harm lenders that serve minority communities.

The National Credit Union Administration adopted a rule that allows credit union service organizations to offer a wider range of loans over the objections of agency Chairman Todd Harper, who said it risks deposit insurance losses.

The industry generally likes a National Credit Union Administration plan that would count Treasury funds as secondary capital. But it opposes the exclusion of 30-year investments under the the Emergency Capital Investment Program, which credit unions say are essential to revitalizing Black and Hispanic communities.

Consumers are saving more and borrowing less, making it harder for credit unions to meet a key ratio that the National Credit Union Administration uses to gauge their financial health.

The Tampa, Florida-based credit union stuck to its roots in the railroad industry to select its new name.

The Iowa credit union's deal for Home Savings Bank in Madison, Wisconsin, is the 11th this year to feature a credit union buying a bank.

Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.

Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.