Ken McCarthy

Rick Schmidt, who has been the credit union's chief executive since 2010, plans to step down in January.

After combining with Brazosport Teachers Federal Credit Union in Clute, Texas, Space City will become a $160 million-asset institution.

Delana Bolen, the new chief executive of Baylor Health Care System Credit Union, was most recently vice president of sales and support for Cornerstone Resources.

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

Even "lifers" are considering new jobs as financial institutions bulk up to expand into new markets.

LincolnWay Community Bank in Illinois has agreed to be sold to CoVantage in Wisconsin, adding to a trend of bank-credit union deals that has drawn backlash from many small-bank executives.

Although small banks and credit unions are enjoying healthier loan portfolios, they are also bracing for potential setbacks due to higher interest rates and inflation.

Regulators in a half dozen states have now thrown at least temporary roadblocks in front of credit unions’ effort to buy community banks.

The state's Treasurer's office is urging lenders to make loans to cover the steep costs of adoption. Participating credit unions get an extra incentive by being permitted to accept deposits from public institutions — a perk typically enjoyed only by banks.

Two years since the coronavirus began its spread, members are still hoarding savings and are hesitant to borrow due to the economic uncertainty. This has led to the industry's lowest-ever yield-on-assets ratio — a key metric for measuring financial health.