Finance

The Rhode Island-based institution also finished building a 27,000-square-foot operations center and branch.

Power Financial Credit Union's deal for TransCapital Bank marks the fourth time this year a bank has agreed to be sold to a credit union in the Sunshine State.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.

Andy Reed, who currently leads Texas People Federal Credit Union, will become president and CEO of the Dallas-based institution in May.

Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.

These programs are becoming a more common employee benefit but many lack some of the tools users need to be successful.

One credit union marketing expert offered tips on how to break down silos to create "smarketing."

Members of Credit Union South, which has lost money during the past five years, voted to approve the merger.

Marqeta, which launched in 2010 with a payments platform to support payments through mobile and virtual channels, reportedly has attracted $250 million in a new funding round, which would bring its total funding amount to more than $350 million.

Advent International and Bain Capital have made quite a team in payments industry deals.

The credit union saw a 50 percent increase in mortgage originations, which helped spur a significant spike in net income last year.

The Swiss bank’s CEO calls the trading environment “one of the worst in recent history”; 10,000 of German bank's U.S. employees fret over their future.

The $1.2 billion-asset institution has issued rewards payouts for nearly 40 years, but returns have gone down in each of the last few years.

With the National Credit Union Administration board at full strength for the first time in years, here are three areas where the panel can make a big difference for CUs early on.

The latest Credit Union Trends Report from CUNA Mutual shows CUs serving more consumers even as the industry continues to contract.

As growth slows in key markets, Starbucks Corp. is funding a new investment arm with $100 million to identify and tap into companies that are developing new technology and products related to food and retail.

The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.

The Saginaw, Mich.-based institution has yet to reveal the new name, though management indicated that it won't include a religious reference.

Credit unions in those two states also posted double-digit growth in total loans and recorded lower delinquency rates.