Ken McCarthy

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.

Australia Hoover, who started as a call center employee in 1996, succeeds Betsy Mercier, who is retiring after 22 years at the helm.

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base.

Consumers will continue to utilize new payments methods in the coming year, but are also likely to shift between credit and debit, the company said.

The Papillion, Neb.-based credit union has appointed Chief Operations Officer Robin Larsen to succeed Gail DeBoer.

John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. His successor has spent more than three decades there.

Stimulus payments and deferrals have helped borrowers stay current, but lenders must brace for a capital hit when those benefits eventually run out.

The Mechanicsburg, Pa.-based institution's newest chief executive most recently served as an executive at another Harrisburg-area credit union.

The National Credit Union Administration may get a new leader, several institutions could seek to expand their fields of membership, and a pot banking fight may reemerge.

In December, the National Credit Union Administration barred the individuals from working in the financial services sector for taking money from their institutions for personal use.