Ken McCarthy

The Washington, D.C.-based institution could see its membership grow by as much as 72% now that federal regulators have approved the move.

Acquirers shelved plans to buy banks this year as the coronavirus became widespread, but a combination of factors could spur the confidence to restart those conversations in the months ahead.

Chief Operations Officer Jerry Schmidt will take over at the Rapid City, S.D.-based institution in early January.

Fran Godfrey, who has spent more than 35 years at the Michigan-based institution, will step down at the end of January.

CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.

The regulator issued prohibitions for former credit union employees in Virginia and Connecticut.

The deal will expand the credit union's brick-and-mortar footprint to more than 30 locations across Illinois and California.

Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players.

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

While some institutions have held off on staffing up for new projects, many mission-critical positions at the executive level are still being filled. It may take until well into 2021 before normal patterns return.

The industry has mounted a massive get-out-the-vote effort, but institutions also want to keep politics out of the office.

The National Credit Union Administration generally only approves a handful of charters each year, but sustained economic troubles are likely to make launching a new institution even more challenging.

Members are completing more of their banking online than ever before, forcing many institutions to rethink their strategies for physical locations.

A recent victory for Navy Federal opens diversity jurisdiction to federally chartered credit unions, allowing them to more easily bring matters before federal courts.

CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services.

Whether the number of deals for 2020 can come close to last year's record-setting level will come down to one question: Can community banks generate strong enough profits in the second half to justify their independence?

Whether the number of deals for 2020 can come close to last year's record-setting level will come down to one question: Can community banks generate strong enough profits in the second half to justify their independence?

While some big banks have pledged to avoid layoffs this year, hiring freezes and delayed projects are becoming the norm during the pandemic.

Tom Meyer, CEO of 1st Capital since 2015, decided to step down because shelter-in-place orders are keeping him from family hundreds of miles from the bank.

The regulator's extension for first-quarter documents applies to BHCs with less than $5 billion in assets.