Ken McCarthy

Credit unions generally struggle to make agricultural loans because the market is saturated by more experienced lenders. But they can develop the expertise — or acquire it through M&A.

Robert Goscicki has stepped down as president and CEO of Area Federal Credit Union in Aberdeen.

Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.

The combined Mountain West Credit Union Association and the Northwest Credit Union Association are taking a new name to reflect a wider area of membership.

The combination of the Cornerstone League and the Heartland Credit Union Association is the latest in a series of mergers changing the national makeup of the credit union industry.

It appeared Orion Credit Union had a green light to purchase Financial Federal Bank. But the Tennessee Department of Financial Institutions has once again asked a judge to stop the deal, claiming depositors would be "irreparably harmed" if it goes through.

The boards of the Cornerstone League and the Heartland Credit Union Association are moving forward with due diligence to possibly combine the organizations, which serve credit unions in five states.

Participants in the sale of banks to credit unions may need to do a better job of due diligence and gauging the receptivity of their regulators to such deals, experts say in response to the cancellation of VyStar Credit Union's agreement to buy Heritage Southeast Bank.

Credit unions enjoyed especially strong loan demand from car buyers — helping to push overall loan growth to twice the rate of what banks saw in the first quarter — following a lull stemming from pandemic-era setbacks.

With household expenses and borrowing costs spiking, banks are bracing for depositors to demand more interest. The only question is how much longer bankers can hold out.