Ken McCarthy

Wings Financial Credit Union in Apple Valley, Minnesota, has agreed to buy Settlers Bank in DeForest, Wisconsin. It's the third bank acquisition deal Wings has announced, one of which fell through.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

Affinity Federal Credit Union in Basking Ridge said Kevin Brauer will succeed John Fenton as president and chief executive on Jan. 1.

Truliant Federal Credit Union plans to build three more locations in the northwest corner of South Carolina by the end of next year. The $4 billion-asset credit union also recently opened a regional office in Greenville, South Carolina.

Even the most passionate workers may need a more flexible schedule, a hybrid office or unique training. Credit unions that want to hire and retain those people need to not only meet those needs, but also know when to help them move on to a new employer, experts say.

Telhio promoted Derrick Bailey to be its next president and said he'll eventually be CEO, though it did not say when he would succeed Leslie Bumgarner at the helm.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

The San Jose, California-based credit union completed its first out-of-state expansion with a virtual branch in Idaho's tech hub, to be followed soon by a brick-and-mortar location.

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

David Deborde has been named president and chief executive, taking over for his mother, Cheryl, who is retiring.