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.