California

A new law authorizes municipalities in the nation’s largest state to charter their own financial institutions to reinvest public funds into the community.

The California-based institution can now serve more than 3.2 million people.

The San Diego-based institution changed its name in attempt to reach wider audience.

The institution also remained well capitalized and its membership rose in the first half of the year.

A growing number of institutions offer concierge services for staff members as a way to boost employee retention.

The California company said it has no timeline for Russell Colombo's expected retirement.

Marji Hughes is leading the California-based institution on a temporary basis as the board searches for its next CEO.

As the industry considers a movement-wide focus on diversity and inclusion, some at the annual Inclusiv conference say there are opportunities for credit unions to better serve immigrants and have more diverse staffs.

Hispanics will make up more than half of new homeowners by 2030, and credit unions need to actively market to this demographic, according to a panel discussion at Inclusiv's annual conference.

Private Bancorp of America is the latest bank to report a borrower issue in connection with a high-profile fraud case tied to liquor licenses.