Ken McCarthy

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.

Banks and credit unions compete head-to-head in many markets, so credit union CEOs take advantage of bank earnings season to gain a little extra intel. But many will scour first-quarter results as closely as ever to determine the impact of the banking crisis on deposits flows, lending and the overall economy.

Rick Hein, who has been the chief executive of the financial institution for 23 years, plans to depart next year.

On the anniversary of the Center for Disease Control's mask guidance, banks and credit unions are striking a balance between health and branch security.

Mark Rabinowitz, the credit union's chief administrative officer, took over as chief executive on April 1, replacing Matthew Herbert.

Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.

James Norris, who joined the Germantown-based credit union in 2010, will retire April 21.

After experiencing deposit growth above 11% in 2021, credit unions saw that figure drop to 3% last year. But some CEOs say funds are flowing in again in the wake of recent bank failures.

Fred Eisel will succeed David Brehmer, who plans to retire from the $6 billion-asset Vizo Financial on Jan. 5, 2024.

A few years ago, banks and credit unions were veering away from drive-up service in their new branches. And then the pandemic hit.

Consumers are worried that the banking crisis could spread to their own accounts. To address these fears, some credit unions are getting more focused on liquidity — and making their top executives available to address any member's concerns.

Credit unions' provision for loan and lease losses rose by 337% in 2022. Industry observers cite forecasted economic weakness and current expected credit loss implementation as the primary reasons.

Wally Murray, who has spent 35 years at the $1.8 billion asset credit union and the last 22 as its president and CEO, retired March 14.

Crossing the $500 million-asset mark helps credit unions improve membership numbers and loans, but regulatory data shows that many are choosing to stay small. The reason may be more emotional than practical.

The West Palm Beach credit union named Steve Bosack as its new chief executive. He has worked for the National Credit Union Administration and Pentagon Federal Credit Union among other stops.

Community lenders do not share the problems that led to the downfall of Silicon Valley Bank and Signature Bank — but their customers and members don't always know that.

The credit union promoted Shelly Mellenberger, a senior vice president, to be its new president and CEO. She replaces Dan Wollin, who will retire on April 2.

Despite growing up as digital natives, this age group now has more complex financial needs than they can typically handle online.

Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.

SeaComm Federal Credit Union of Massena, New York, and St. Lawrence Federal Credit Union of Ogdensburg, New York, are planning to merge by the end of the year.