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Twelve banks joined the Tencent financing deal, which initially had a $6 billion size.

Joseph Lajoie has succeeded Pamela Mello, who stepped down last month after more than five years in charge.

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

Japan has long been known for its heavy use of cash, which is a burden for banks that are trying to move more services online. Maintaining ATMs alone costs about 700 billion yen ($6.6 billion) annually and another 100 billion yen is spent handling cash at branch counters, Nomura Research Institute estimates.

The longtime leader joined State Employees' Credit Union, the second-largest CU in the nation, in 1975 and was named CEO in 2016.

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

Despite a culture of innovation, cash is still king in Japan. That paradox gives Japan a chance to leap ahead of other countries in payment innovation, says Fime's Takahide Kadoyama.

Sundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space.

Chinese e-commerce giant JD.com Inc. said it plans to spin off its JD Logistics shipping business in a listing on the Hong Kong Stock Exchange.

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.

It would be misguided to expect cash-like features of a central bank digital currency, according to one of the monetary authorities furthest ahead in exploring such a system.

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

The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.

The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.

The Philadelphia-based institution will host free coronavirus screenings for the public this month as part of a partnership with the Greater Bustleton Civic League.

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

Richard Daugherty stepped down after more than three decades at the Maryland-based institution, including overseeing four mergers and asset growth of nearly 500%.

Tom Rachael, who has led the Muncy, Pa.-based institution since 2003, will be succeeded by Scott Naughton, who is new to credit unions but has extensive experience in the financial services sector.

The department of financial services will grant credit under the state's community reinvestment law to New York-chartered banks and credit unions that finance projects aimed at helping low-income communities better adapt to a warming world.

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.