Ken McCarthy

Consumers are saving more and borrowing less, making it harder for credit unions to meet a key ratio that the National Credit Union Administration uses to gauge their financial health.

The Tampa, Florida-based credit union stuck to its roots in the railroad industry to select its new name.

The Iowa credit union's deal for Home Savings Bank in Madison, Wisconsin, is the 11th this year to feature a credit union buying a bank.

Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.

Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.

Anthony Taylor was recently honored for his hard work in helping build Ascend into one of the largest credit unions in Tennessee. Taylor says he jumped at the opportunity to give back to the credit union that decades earlier welcomed him and other Black consumers when they struggled to find affordable credit elsewhere.

Josh Wooley succeeds Glenna Jarvis, who retired in June as president and CEO. Wooley had worked at a larger credit union across the Kansas state line.

Mike Warrell most recently headed Solano First Federal Credit Union in California.

Pentagon Federal Credit Union bought its own Cessna, citing safety considerations and the cost of commercial air travel during the pandemic. But the purchase has fueled bankers' criticism of how credit unions use their tax exemption.

The Alexandria, Virginia, organization will change its name next month.