Growth strategies

A planned combination with Premier Federal Credit Union in Greensboro, N.C., will expand the Charlotte-based credit union's reach in the Tar Heel State.

A deal to merge with First General Credit Union in Norton Shores, Mich., will extend the Detroit-area institution's reach across the state.

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member.

ATG Trust, which has $387 million of assets under management, handles land trusts and administers court-supervised guardianships.

The combined institution will hold assets of more than $335 million and serve over 20,000 members across eight counties in Oregon.

Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.

A recently approved TIP charter, the latest in a series of growth initiatives over the last five years, will allow the Tampa-based credit union to serve anyone working in the medical field statewide.

The North Carolina-based credit union, which purchased the vacant bank branch last summer, serves some members across the state line but has not had a brick-and-mortar presence there until now.

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

The onset of COVID-19 forced the industry’s largest trade group to put its Open Your Eyes campaign on hold, but nearly a full year later it’s still struggling for industry buy-in.

The Miami bank, which called off a proposed sale to a credit union last year, recruited Ramon Rodriguez from City National Bank of Florida to oversee its local lending and global banking operations.

The Flint-based credit union is the state's third in just over one year to get the OK for an expansion allowing anyone who lives or works in the state to join.

The California company acquired Civic Financial Services, which makes loans to residential real estate investors.

Any business loan growth the industry sees this year will be closely tied to mass vaccination efforts and a broader economic recovery, meaning it may take until at least the third quarter for pent-up demand to translate into new opportunities.

California Polytechnic State University is said to be seeking a new banking partner, a move that could leave the university-based credit union without a home.

The U.S. unit of Toronto-Dominion Bank merged its corporate and specialty team with its commercial banking group, putting the fast-growing operations under the same leadership.

Stephen Steinour, the head of Huntington Bancshares, approached TCF Financial about a merger three days after the latter's CEO abruptly retired. An agreement was sealed in about six weeks.

After rising losses in 2020, First Credit Union of Scranton is seeking members' approval to merge into Penn East FCU.

The new name is the first major change since Dennis Zember became the company's CEO last year.

The credit union expects to open at least eight branches across the country in the months ahead, about half of what it normally adds to its brick-and-mortar network in an average year.