Ken McCarthy

Wings Financial Credit Union in Apple Valley, Minnesota, has agreed to buy Settlers Bank in DeForest, Wisconsin. It's the third bank acquisition deal Wings has announced, one of which fell through.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

Affinity Federal Credit Union in Basking Ridge said Kevin Brauer will succeed John Fenton as president and chief executive on Jan. 1.

Truliant Federal Credit Union plans to build three more locations in the northwest corner of South Carolina by the end of next year. The $4 billion-asset credit union also recently opened a regional office in Greenville, South Carolina.

Even the most passionate workers may need a more flexible schedule, a hybrid office or unique training. Credit unions that want to hire and retain those people need to not only meet those needs, but also know when to help them move on to a new employer, experts say.

Telhio promoted Derrick Bailey to be its next president and said he'll eventually be CEO, though it did not say when he would succeed Leslie Bumgarner at the helm.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

The San Jose, California-based credit union completed its first out-of-state expansion with a virtual branch in Idaho's tech hub, to be followed soon by a brick-and-mortar location.

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

David Deborde has been named president and chief executive, taking over for his mother, Cheryl, who is retiring.

Neil Ray Sommers, who was 74, was succeeded by Bret Fisher, Achieve's director of operations the past three years.

The Hauppauge, New York, institution plans to take advantage of its open charter that allows anyone in the U.S. to join after several years of building out its infrastructure to support a national business. Bankers decried the move as further overreach by the credit union industry.

Centric named Rodney Parker as its new CEO. He succeeds Chris Craighead, who retired after 30 years as the credit union's leader.

Discovery Federal Credit Union in Wyomissing has promoted its chief information officer, Michele Smith, to succeed Edwin Williams as CEO. Smith assumed her new role effective October 1.

U.S. banks closed almost 3,000 more branches than they opened last year, but credit unions' branch count crept up in the second quarter despite consumers' heavier reliance on digital channels for account management.

Mike Swalley, the longtime president and CEO of the North Chesterfield, Virginia, credit union, will retire next year. An internal search committee has partnered with D. Hilton Associates to find a successor.

The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

Vermont State Employees Credit Union is attracting new cannabis clients so rapidly that it had to press the pause button to add staff. Another New England lender, Needham Bank, is building its own pot banking business through acquisition.

The Saginaw credit union named Derrick Barber as its new president and chief executive. Barber will succeed Gerald Hutto, who will be retiring.

Geoff Bullock will succeed Phil Jones, who is retiring after 15 years of leading Harborstone.