Ken McCarthy

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors.

The bank trade group called for lawmakers to revoke the industry’s tax exemption and suggested that credit union acquisitions of banks create a “brain drain” of local lending expertise that could slow any economic recovery.

The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.

Some in the industry are planning in-person events, but the largest meetings are still unlikely to reconvene for a while.

The credit union regulator's first prohibitions of 2021 relate to misuse of member funds at institutions in Alaska and Florida.

A deal to bring Coulee Dam FCU into the fold will expand the Spokane, Wash.-based credit union's branch network while providing a wider array of technologies to the former CDFCU members.

The Bridgewater, N.J.-based credit union promoted Frank Almeida to president and CEO, the final step in process it began when he was hired in 2014.

The Iowa-based institution hopes the funds can help narrow the racial homeownership gap in the state, which is believed to be among the worst in the nation.

The Minnesota credit union's deal for Brainerd Savings & Loan comes about 11 months after it bought Neighborhood National Bank in Minnesota.

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total assets.