Michigan

The East Lansing-based credit union plans to open two branches in the Traverse City area, more than three hours north of its headquarters.

While regulation and nonbank competition are spooking some banks and credit unions, others believe low funding costs and the right relationships can help them succeed.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

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.

Two attorneys told a credit union audience the growing wave of marijuana legalization could have just as big an impact on financial institutions that don't serve the cannabis industry as those that do.

As credit unions attempt to bring in deposits to fund more loans, one institution's success story could offer a path for others.

The Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015.

The Michigan-based credit union, which has a branch network across six states, also saw an increase in deposits.