Growth strategies

KINGSPORT, TENN. — Eastman Credit Union announced over the weekend that it will issue a $10 million extraordinary dividend to members as a reward for doing business with the CU.

Peoria, Ill. – Citizens Equity First Credit Union (CEFCU), a $5.2-billion institution based in Peoria, Ill., said its board of directors has issued a $40 million “extraordinary dividend” to its members for the second consecutive year.

After more than a year of debate, the trade association is amending its bylaws that required credit unions to belong to both CUNA and their respective state leagues. Credit Union Journal offers a look at how the debate finally got to this point.

The credit union industry as a whole continues its streak of strong quarterly results, but the “great divide” between large and small CUs still exists.

In dramatic move, trade group says it will draft new bylaws and present to membership in early 2016.

Now that the state House of Representatives has passed the legislation, all eyes turn to the state Senate, where the Michigan CU League expects to find strong support for the modernization effort.

Elevations Credit Union in Boulder, Colo., has launched a new website, featuring a responsive desi

Scott Credit Union declared a bonus dividend and loan interest rebate, giving back more than $1.3 million to its members.

The National Credit Union Foundation's financial literacy program for children, Biz Kid$, will receive proceeds from the 2015 San Diego County Credit Union's Poinsettia Bowl.

Hiway Federal Credit Union in S.t Paul, Minn., has renewed its partnership with the National Hockey League’s Minnesota Wild to be the team’s credit union sponsor.

Total loans at federally insured credit unions reached $769.5 billion at the end of the third quarter of 2015, a 3.3% jump from the second quarter; and a 10.7% surge from the third quarter of 2014, according to statistics released by NCUA.

Great Lakes Credit Union in Bannockburn, Ill., and Phone-Co Credit Union have merged.

Achieva Credit Union is believed to be the first institution of its kind to complete a whole-bank acquisition. The deal could provide a template for other credit unions keen on buying banks.

PenFed Credit Union in Alexandria, Va., announced two mergers Wednesday, one with NAVFAC Federal Credit Union in Honolulu, Hawaii, and one with AAFES FCU in Dallas.

Despite years of effort to reach the Hispanic community, credit unions still face a number of challenges—and opportunities—in this market, according to a panel put together by NCUA on this topic.

Partner Colorado Credit Union will pay its members a record $1 million in a pre-holiday bonus dividend on Dec. 4.

Annual Best Practices Awards offer a look at tested tactics that can be implemented by other CUs.

Just in time for the holiday shopping season, on Tuesday CO-OP Financial Services announced partnerships with both Visa and MasterCard on new payments technology.

Ent Federal Credit Union said its members received more than $3.4 million in annual loan rebates as part of the CU’s Ent Extras loan benefit program.

Winners of Credit Union Journal’s annual awards offer insights into innovative programs that have made a real difference at their credit unions—and the best part: they’re all things you can adapt at your CU, too.