EAST LANSING, Mich. - Financial Health Credit Union here said it will merge with Grand Rapids-based Bell Com Credit Union to form a new entity called Option 1 Credit Union. When the merger is completed Oct. 1, Option 1 will have $250 million in assets and serve 35,000 members spread over 11 counties. FHCU CEO JoAnne Fillwock will be president of the combined operation, while BCCU CEO will be CEO.
Citadel Credit Union is joining the small cadre of credit unions active in the Small Business Administration's biggest loan program as it seeks to expand in its small-business-rich footprint.
Regulators say the Mississippi-based depository satisfied the terms of the $5 million settlement it reached with Biden administration officials in 2021.
The stablecoin issuer has kicked off its initial public offering after reportedly delaying it due to macroeconomic uncertainty caused by Trump's tariff plans last month. It first filed its S-1 with the Securities and Exchange Commission in April.
Agency lawyers called the rule, which was almost a decade in the making, "unlawful" in a court filing.
The Federal Reserve and several industry groups agreed to put an indefinite stay on their legal fight over the annual examination process.
As real-time payments become more common, UBB's partnership with fintech Pidgin offers a roadmap for smaller banks to stay relevant.
