Ken McCarthy

The joining of Align Credit Union and Alltrust Credit Union is among the first of several deals in the pipeline where both institutions have more than $250 million of assets, as the ongoing pressures of the COVID-19 pandemic prompt more firms to pair up, experts say. Carmen Sylvester, Alltrust's CEO, will lead the combined organization.

Unify Financial Credit Union is using a 30-second spot featuring safety Terrell Burgess to highlight the Texas organization's expansion within California.

Hanscom Federal Credit Union in Bedford, Massachusetts, has chosen Peter Rice to succeed David Sprague, who announced his retirement last year.

Village Financial Credit Union expects to begin operations this year after it receives additional capital and a charter. It plans to serve a part of Minneapolis that has no traditional banks or credit unions but is overrun with payday lenders.

The sale of Wilmac Corp. led the one-branch Wilmac Employees' Credit Union to combine with Belco Community Credit Union.

TruMark has begun the search for its next chief executive after Rick Stipa, who led the credit union for more than 20 years, announced he'll step down.

The combination of the Bay Area credit unions creates an institution with nearly 50,000 members.

The coronavirus and economic impediments have made it hard for credit unions to add members in recent years. Yet efforts to adapt to less face-time with customers, rev up auto lending and refine other aspects of their businesses are starting to pay off.

There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.

The Community Bankers Association of Illinois has proposed legislation to discourage credit union-bank mergers by imposing a fee that credit unions would have to pay when they purchase banks. Six Illinois community banks have been sold to credit unions since 2019.