Ken McCarthy

State-chartered credit unions say their fields of membership are too narrowly defined. Rather than convert to federal charters, they are backing a bill that would provide greater reach.

The $1.4 billion-asset credit union said John Roemer officially became its new leader Jan. 23.

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

Alaska USA Federal Credit Union, the 18th-largest credit union in the country by assets, said the new name better reflects its worldwide member base.

The $104 million-asset Finex Credit Union in East Hartford plans to partner with the $52 million-asset First Connecticut Credit Union in Wallingford.

The state of Colorado has reached a $4 million settlement with Canvas Credit Union and Bellco Credit Union after the companies were accused of failing to pay refunds of guaranteed automobile protection fees due to borrowers.

Rising deposit costs and the likelihood of a slowdown in loan growth could stifle earnings, credit union executives say.

The San Antonio-based organization said Don Ford is now president and will become after Lynn Kincaid retires in May.

Frank Zampella, the chairman of the $526 million-asset credit union, will serve as interim CEO now that Tom Graves has retired.

4Front Credit Union in Traverse City has agreed to buy Old Mission Bank in Sault Sainte Marie. There were 16 such acquisitions announced in 2022.

The credit union has named Michael Sferro as its new president and chief executive. Sferro succeeds Rose Bartolomucci, who retired at the end 2022.

The Texas credit union promoted Luke Billeri, its executive vice president, to chief executive Jan. 1. He succeeds Randy Theilig, who retired.

Smaller credit unions' focus on interest rates and service may not be enough to overcome a lack of tech resources. All categories below $1 billion of assets lost members in the third quarter compared to a year earlier, despite a 4.4% rise in membership industrywide.

Mid Minnesota Federal Credit Union named Bob Gerads, formerly of Falcon National Bank in Minnesota, to succeed Chuck Albrecht as president and chief executive.

John Deese stepped down as president and CEO of the West Palm Beach credit union, effective Dec. 31.

Land of Lincoln Credit Union in Decatur has agreed to acquire Colchester State Bank in Colchester.

Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.

The credit union hired Janell Upton to succeed Chaz Rzewnicki, who left to become CEO of Vibe Credit Union in Michigan.

Credit unions announced 15 deals for banks in 2022, surpassing 2021's total — with much of the momentum coming late in the year.

The interim chief executive, Mark Wilburn, has been with Truity more than 25 years. The outgoing CEO, Dennis Halpin, plans to retire in January.