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The joining of Align Credit Union and Alltrust Credit Union is among the first of several deals in the pipeline where both institutions have more than $250 million of assets, as the ongoing pressures of the COVID-19 pandemic prompt more firms to pair up, experts say. Carmen Sylvester, Alltrust's CEO, will lead the combined organization.
February 17
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Employees at Genesee Co-Op Federal Credit Union in New York and Beneficial State Bank in California formed unions in the past year to bargain for better wages and reform their corporate cultures. Will workers at other community institutions follow their lead?
February 14
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Unify Financial Credit Union is using a 30-second spot featuring safety Terrell Burgess to highlight the Texas organization's expansion within California.
February 11
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Village Financial Credit Union expects to begin operations this year after it receives additional capital and a charter. It plans to serve a part of Minneapolis that has no traditional banks or credit unions but is overrun with payday lenders.
February 10
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PSCU is working with EnaComm to build web and mobile applications for prepaid cards.
February 8
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The coronavirus and economic impediments have made it hard for credit unions to add members in recent years. Yet efforts to adapt to less face-time with customers, rev up auto lending and refine other aspects of their businesses are starting to pay off.
February 2
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There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.
January 28
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Some are eliminating their charges for overdrawn accounts in response to recent reforms by big banks and the consumer-friendly practices of neobank rivals.
January 26
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The Louisiana Credit Union League is nearing the launch of a social network that will allow its constituents to stay in touch even when they can't meet in person, whether due to the pandemic or natural disasters.
January 20
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The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.
January 18
