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Featuring the latest news from credit unions across the country.

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Members 1st Credit Union, based in Redding, Calif., announced Monday it will promote Teri Vanderpol to become the organization's next chief executive officer. Vanderpol, who currently works as the credit union's chief financial officer and president, will assume the position in 2016 when current CEO Mark Moore retires.

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Citadel Federal Credit Union, Exton, Pa., has expanded its fee-free automated teller machine (ATM) network through an agreement with Rite Aid pharmacies that adds four new locations.

The ATM network isn't the only thing Citadel is expanding: it also recently opened three new branches in Montgomery County, Pa., with plans to open several other branches later this year and in early 2016.

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Credit Union ONE, Ferndale, Mich., is set to absorb $93 million Good Shepherd CU, pending a vote by GSCU's membership slated for March 25. The merger is expected to be completed at the end of June. Originally chartered in 1957, Good Shepherd CU has 8,300 members and two branches, serving a membership that lives, works and worships in Wayne and Monroe counties. It posted a net income in 2014 of $22,000 and, as of its December 2014 Call Report, has $23.4 million in loans on the books, spread across new and used auto lending, mortgages and lines of credit.

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The Minnesota legislature is considering a pair of bills sponsored by the Minnesota CU Network that would allow CUs to offer prize-linked savings accounts.

The two bills — H.F. 1127 in the House and S.F. 1043 in the Senate — are designed to help encourage more Minnesotans to save money in a fun and effective manner. A statement from the league pointed to a 2013 Bankrate.com study that found more than 25% of respondents had no savings at all, and nearly 76% didn't have enough to cover six months of living expenses in the event of a job loss. Prize-linked savings are believed to encourage consumers to save by allowing them to experience the immediate reward of prizes and incentives as they save.

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Ideal Credit Union, Woodbury, Minn., recently launched its "Get Wiify" campaign — an acronym for "What's in it for You." The $587 million CU says the goal is to further distinguish itself as the "ideal choice for financial services" by consumers, especially those looking for a community-oriented financial institution that "mirrors their core values of giving back and concern for the greater good."

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