Ken McCarthy

Langley Federal Credit Union in Newport News and Virginia Beach Schools Federal Credit Union would serve more than 300,000 members after combining.

The National Credit Union Administration closed the New Jersey credit union after determining it engaged in unsafe and unsound practices.

Ron Collier, who has served as the $2.8 billion-asset credit union’s president and CEO for 18 years, will step down on Dec. 31, 2022.

Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.

The National Credit Union Administration will distribute the funds to 1,800 credit unions to resolve the failure of three corporate credit unions in the wake of the financial crisis. It is the third such payment the regulator has made within the past year.

With an agreement in hand to buy Bank of Commerce Holdings in Sacramento, the Washington company will prioritize filling in a 200-mile gap between the seller's footprint and its own.

The leaders of the largest credit union trade groups are back on the road visiting members, and the organizations are also planning live conferences this year.

The deal for Bank of Commerce Holdings in Sacramento would be the first bank acquisition in the Golden State for Tacoma, Washington-based Columbia.

The combined company will operate under the Royal name and leadership.

MidUSA Credit Union in Middletown, Ohio, and Heartland Federal Credit Union in Dayton have combined to form MyUSA Credit Union, which will operate nine branches in the Miami Valley and hold roughly $350 million of assets.