Corporate governance

Webster Federal Credit Union and Finger Lakes FCU plan to join forces before the end of the year, though the deal still needs approval from regulators and members.

The streaming service is taking out a two-year certificate of deposit with Hope Credit Union, which plans to use the funding to provide credit to communities often overlooked by mainstream banking.

From natural disasters to pandemics, the best business-continuity strategy may simply be to ensure you have a strategy.

The National Credit Union Administration will also discuss the current expected credit losses standard, which trade groups have argued that the industry should be exempt from.

Financial firms should offer debt consolidation and faster payment services to help employees who may be struggling through the coronavirus pandemic.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.

Recruiting directors from a variety of backgrounds is a challenge familiar to many credit unions. A member of one of the nation's largest CUs is calling for that institution to address the problem.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

See this crisis not as a nail in your corporate coffin but as an opportunity to move your team and members forward, said OBI Creative CEO Mary Ann O'Brien.

United Methodist Federal Credit Union is set to become Interfaith Credit Union. It is also planning to absorb a small South Dakota-based institution with a similar field of membership.

The streak of strong gains for new members was flagging by the end of 2019 and has only worsened since then.

The Louisville, Ky.-based credit union has been open to consumers in nine counties across two states since 2004, but the new name is intended to prevent confusion about who is eligible to join.

Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said.

Combining the two Southern California-based institutions will create the state's eighth-largest credit union. The deal is also a homecoming of sorts of Xceed CEO Teresa Freeborn, who was previously an executive at Kinecta.

The Los Angeles company said Chang Liu, who runs its bank, will succeed Pin Tai, who is retiring.

A merger proposal at Partners Financial Federal Credit Union was rejected in a member vote. The failure has revealed tensions between management and the board.

The North Carolina regional created by the merger of BB&T and SunTrust is saving money by shedding office space and reworking vendor contracts, but it was forced to put its systems integration on hold for up to a year to prioritize tech upgrades tied to the pandemic.

The South Carolina-based credit union will buy two locations from Arkansas-based Bank OZK as it moves to exit the Palmetto State.