Illinois

The purchase of Ben Franklin Bank is the latest deal in a year that has seen a record number of CUs buying out the competition.

The bench upheld a lower court's ruling that the plaintiff did not suffer an "injury-in-fact." Several judges previously made similar rulings.

Credit unions can usually limit attrition of consumer accounts after a bank acquisition, but maintaining relationships with business customers is the bigger challenge.

Kelly McDonough will take over next month, nine months after the $289 million-asset shop's former CEO left to lead a CUSO.

A Wisconsin credit union's agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.

The company will pick up five branches as part of the $48 million deal.

Charges against Stephen Calk indicate he lied to regulators about what he knew when he approved loans to Paul Manafort, as well as his interest in landing a job in the Trump administration.

Consolidation activity was ho-hum for most of April before a burst of transactions — and notable ones at that — were announced in the month's final week.

Shelley Seifert had been the bank's chief operating officer.

Luis A. Reyes Jr. takes over for the Rev. Arnold O. Pierson, who served as president since the institution opened in June 2016.

Members of Bard Employees Federal Credit Union approved the merger into Baxter Credit Union earlier this month.

Urbana Postal Credit Union is the latest in a string of closures and rebrandings as CUs chartered to serve post office employees attempt to stay relevant.

The Peoria, Ill.-based institution also saw increases in lending and net worth.

The Illinois company will pay about $10 million, and redeem $23.5 million in trust-preferred stock, as part of the deal.

The deal between Performance Trust and Banks Street Partners is the second combination this month of investment banks that cater to commercial banks.

Municipal IDs help marginalized groups, such as undocumented immigrants, open checking accounts and become credit union members but concerns over regulatory compliance linger.

The Illinois-based credit union has broadened its field of membership to include two Missouri counties and issued another dividend.

Donald Finn began his credit union career in 1964 by working as a loan officer for a Michigan institution.

Steans, a former LaSalle Bank chairman who also led the financial crisis recapitalization that saved Taylor Capital, died on Tuesday. He was 83.

E.J. Donaghey has left University of Illinois Credit Union to become the new president and CEO of Fort Dodge, Iowa-based Citizens Community CU.