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.

Rivertown Community Federal Credit Union and Allegan Credit Union in Michigan will join forces in January under their shared boss, Kris Lewis.

Alabama One said the deal for First Bank of Wadley, a subsidiary of Peoples Independent Bancshares in Boaz, Alabama, would expand its footprint in the eastern part of the state.

Dan Clarke succeeds Rachel Caron, who was CEO of the $256.4 million-asset organization for 12 years before retiring in June.

In the third CU-bank deal announced in the past 10 days, LGE Community Credit Union in Atlanta would acquire Greater Community Bank in Rome, Georgia.

The National Credit Union Administration board voted Thursday to advance a proposed rule that would loosen existing regulations and allow credit unions to purchase member loans from fintechs.

Ryan McIntyre will become president and CEO of Empower Federal Credit Union in Syracuse, New York, on Jan 3. He was most recently chief strategy officer at VyStar Credit Union and worked at Regions Bank for 15 years.

Dort Financial Credit Union in Grand Blanc, Michigan, has agreed to buy Flagler Bank in South Florida. The deal would allow Dort "to better serve our members who spend winters in Florida," its CEO says.

Citing "unsafe and unsound practices," the National Credit Union Administration has temporarily taken charge of Richmond City Employees Federal Credit Union.

Many U.S. companies — including JPMorgan Chase, Morgan Stanley and Apple — have drawn attention for increasing pressure on employees to show up more at the office as COVID-19 concerns ebb. Some credit unions have taken similar steps, while others still insist a hybrid schedule is better for recruitment.

Skyla Credit Union in Charlotte, North Carolina, plans to add 9,600 members and $265 million of assets through its deal with Parsons Federal Credit Union.