Corporate governance

There have now been a record 10 credit union-bank merger deals in 2019.

Earnings at the Cincinnati company fell 25% from the same period last year, largely due to $109 million in expenses tied to its March acquisition of MB Financial.

With the industry continuing to consolidate, credit unions must address mergers in their strategic planning sessions so they are ready to be on either side of the deal when the opportunity arises.

The New York-based institution will double the number of counties it can serve as part of the effort to grow.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

The Lutherville, Md.-based credit union returned $1.25 million to members in the first half of the year, on the heels of a $2M payout last year.

The institution was formerly known as SF Police CU but can now serve law enforcement officers statewide.

Credit unions are slowly embracing the impact data analytics can have on the bottom line, but experts say goal-setting and measurable achievements must also be a part of the process.

The Connecticut company, which will top that asset milestone when it buys United Financial, says it could acquire more banks in coming months.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

The Georgia regional plans to open more branches in the state as it looks to loan growth and fees as a way to offset intense competition for deposits.

As strategic planning season kicks off, credit union boards and executives must consider whether they’re doing enough to prevent evolving cybersecurity issues, including account takeovers.

The Connecticut company will add heft in its home state and Massachusetts when it buys the former mutual.

The annual summer shopping bonanza will run across two days for the first time, and other retailers are following suit with offers of their own. Here’s how credit unions can capitalize on it.

Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker.

The autonomous vehicle lending market isn’t expected to peak for decades, but some CUs are already jumping in, and they could be at the forefront of rapid shifts in the automotive industry.

The $10 million-asset institution struggled with profitability, posting a loss of more than $12,000 during Q1.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Studies show that consumers trust posts from an organization’s employees more than the brand itself, and that could be key to using social media as a growth engine for credit unions.

A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.