Ken McCarthy

The credit union has named Michael Sferro as its new president and chief executive. Sferro succeeds Rose Bartolomucci, who retired at the end 2022.

The Texas credit union promoted Luke Billeri, its executive vice president, to chief executive Jan. 1. He succeeds Randy Theilig, who retired.

Smaller credit unions' focus on interest rates and service may not be enough to overcome a lack of tech resources. All categories below $1 billion of assets lost members in the third quarter compared to a year earlier, despite a 4.4% rise in membership industrywide.

Mid Minnesota Federal Credit Union named Bob Gerads, formerly of Falcon National Bank in Minnesota, to succeed Chuck Albrecht as president and chief executive.

John Deese stepped down as president and CEO of the West Palm Beach credit union, effective Dec. 31.

Land of Lincoln Credit Union in Decatur has agreed to acquire Colchester State Bank in Colchester.

Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.

The credit union hired Janell Upton to succeed Chaz Rzewnicki, who left to become CEO of Vibe Credit Union in Michigan.

Credit unions announced 15 deals for banks in 2022, surpassing 2021's total — with much of the momentum coming late in the year.

The interim chief executive, Mark Wilburn, has been with Truity more than 25 years. The outgoing CEO, Dennis Halpin, plans to retire in January.